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Annual wholesale inflation falls 1.7pc

Wednesday, July 23 11:08:03

Inflation at the factory-gate level fell by 1.7pc on an annual basis in June, latest CSO figures show.

Monthly factory gate prices increased by 0.3pc in June 2014. This compares to a decrease of 1.2pc recorded for June of last year. The annual percentage change showed a decrease of 1.7pc in June 2014, compared with a decrease of 3.1pc in the year to May 2014.

In the month, the price index for export sales increased by 0.3pc, while the index for home sales increased by 0.1pc. In the year there was a decrease of 2.1pc in the price index for export sales (this can be influenced by currency fluctuations) and an increase of 0.3pc in respect of the price index for home sales.

In the month, the most significant changes were increases in Printing and reproduction of recorded media (+1.4pc), Computer, electronic and optical products (+0.6pc) and Basic pharmaceutical products and pharmaceutical preparations (+0.5pc), while there were decreases in Dairy products (-0.5pc), Meat and meat products (-0.3pc) and Other Manufacturing including Medical and Dental Instruments and Supplies (-0.1pc).

Contributing to the annual change were increases in Wood and wood products (+8.3pc), Dairy products (+7.8pc) and Other Manufacturing including Medical and Dental Instruments and Supplies (+1.2pc), while there were decreases in Basic pharmaceutical products and pharmaceutical preparations (-4.9pc), Other food products including bread and confectionery (-2.9pc) and Computer, electronic and optical products (-0.2pc).

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