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Dublin: 3°C Friday 26 February 2021

Factory gate prices fall by 0.2 per cent in March

Monthly factory prices fell again in March, but at a slower rate than in the previous year, new statistics show.

MANUFACTURING PRICES continued to fall last month, though at a slower rate than before, according to new figures published by the Central Statistics Office.

The Manufacturing Output Price index fell by 0.2 per cent month-on-month, down to 97.8 per cent of their 2005 levels – the same monthly drop as recorded for February.

When compared against the prices of this time last year, however, prices were up by 0.9 per cent.

The CSO said that Irish exports have become cheaper on average over the course of the month, down by 0.5 per cent, though the index for domestic sales was up by 1 per cent.

The drop was largely fuelled by decreases in the price of consumer electronics, which fell by 2.3 per cent, printing and reproduction (down 2.1 per cent) and pharmaceuticals, which were down by 0.9 per cent on February.

The most significant changes, however, were all upward: the price of dairy produce rose by 7.7 per cent, while medical and dental supplies rose by 2.3 per cent, and meat products by 1 per cent.

The cost of electrical equipment is now 14.8 per cent higher than it was last year.

About the author:

Gavan Reilly

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