Irish wholesale inflation now at 4.5%

Irish factory-gate prices rose by 0.2 per cent in December from the previous month and were up by 4.5 per cent on a year ago, the Central Statistics Office (CSO) said today.

This compares with year-on-year increase of 5.9 per cent in November.

Recent falls in world oil prices prompted a 2.4 per cent fall in energy costs in December, however energy costs have still increased by 15.5 per cent year-on-year.

Prices in building and construction materials increased by 0.1 per cent for December, and by 6.0 per cent in the past twelve months.

The Manufacturing Output Price Index measures changes in wholesale prices and includes export sales. The headline rate of inflation is running at an annual rate of 5.9 per cent according to the CSO.