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Wholesale prices slump 3.1pc in March

Thursday, April 24 11:18:29

Wholesale, factory gate prices fell by 3.1pc in March on an annual basis, latest CSO figures showed this morning.

Monthly factory gate prices decreased by 0.6pc in March 2014 compared to an increase of 0.9pc recorded for March of last year.

As a result, the annual percentage change showed a decrease of 3.1pc in March 2014, compared with a decrease of 1.7pc in the year to February 2014.

In the month, the price index for export sales decreased by 0.8pc, while the index for home sales decreased by 0.2pc. In the year there was a decrease of 3.6pc in the price index for export sales (this can be influenced by currency fluctuations) and a decrease of 1.1pc in respect of the price index for home sales.

In the month, the most significant changes were increases in Dairy products (+0.5pc), Other non-metallic mineral products (+0.3pc) and Textiles (+0.2pc), while there were decreases in Other food products including bread and confectionery (-1.0pc), Basic pharmaceutical products and pharmaceutical preparations (-0.7pc) and Computer, electronic and optical products (-0.7pc).

Contributing to the annual change were increases in Dairy products (+12.6pc), Wood and wood products (+10.0pc) and Other manufacturing (+1.3pc), while there were decreases in Other food products including bread and confectionery (-7.3pc), Basic pharmaceutical products and pharmaceutical preparations (-6.4pc) and Computer, electronic and optical products (-0.5pc).