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Wholesale inflation falls 2.4pc in July

Friday, August 22 11:17:37

Monthly factory gate prices decreased by 0.1pc in July 2014 compared to an increase of 0.7pc recorded for July of last year, the CSO said today.

The annual percentage change showed a decrease of 2.4pc in July 2014, compared with a decrease of 1.7pc in the year to June 2014.

In the month, the price index for export sales decreased by 0.1pc, while the index for home sales increased by 0.1pc. In the year there was a decrease of 2.9pc in the price index for export sales (this can be influenced by currency fluctuations) and an increase of 0.2pc in respect of the price index for home sales.

In the month, the most significant changes were increases in Furniture (+2.8pc), Beverages (+2.1pc) and Wood and wood products (+1.1pc), while there were decreases in Dairy products (-0.6pc), Computer, electronic and optical products (-0.4pc) and Basic pharmaceutical products and pharmaceutical preparations (-0.3pc).

Contributing to the annual change were increases in Dairy products (+4.0pc), Beverages (+3.1pc) and Other Manufacturing including Medical and Dental Instruments and Supplies (+1.1pc), while there were decreases in Basic pharmaceutical products and pharmaceutical preparations (-6.3pc), Other food products including bread and confectionery (-3.1pc) and Computer, electronic and optical products (-1.7pc).

The yearly price index for Mining and quarrying increased by 1.0pc while the monthly index increased by 1.9pc.

Building and Construction All materials prices increased by 1.5pc in the year since July 2013. The most notable yearly changes were increases in Sand and gravel (+35.7pc), Hardwood (+14.5pc) and Stone (+4.1pc), while there were decreases in Fabricated metal (-2.5pc), Other Structural steel (-2.0pc) and Reinforcing metal (-1.4pc). Building and Construction All materials prices increased by 0.1pc in the month.

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