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News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM

Annual Irish Manufacturing Prices fell 2.1% in December 2007
By Finfacts Team
Jan 24, 2008 - 2:10:11 PM

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Source: CSO

The CSO reported today that monthly factory gate/wholesale prices prices increased by 0.5% in December 2007. This compares to a fall of 0.6% recorded for December 2006. As a result, the annual percentage change showed a decrease of 2.1% in December 2007, compared with a decrease of 3.1% in November 2007.

In the month, the price index for export sales increased by 0.2% while the index for home sales increased by 0.9%. In the year there was a decrease in the price index for export sales of 3.5% and an increase in home sales of 3.9%.

In the month the most significant changes were increases in Medical, precision and optical instruments, watches and clocks (+4.8%), and Basic chemicals (+0.6%), while there was a decrease in Basic metals (-6.1%).

Contributing to the annual change were decreases in Office machinery and computers (-12.1%), Medical, precision and optical instruments, watches and clocks (-11.8%), and Pharmaceuticals and other chemical products (incl. man-made fibres) (-4.4%), while there was an increase in Dairy products (+16.2%).

The yearly price index for Mining and quarrying decreased by 20.5% while there was a monthly decrease of 1.9%.

A further analysis of Wholesale price changes by sector of use shows that:

  • Building and construction All material prices increased by 3.3% in the year since December 2006. The most notable yearly changes were increases in Bituminous emulsions (+24.5%), and Stone, sand and gravel (+12.5%). Building and construction All material prices increased by 0.4% in the month.

  • Year on year, the price of Capital goods increased by 2.4%, while there was a monthly price increase of 0.2%.

  • The price of Energy products increased by 10.8% in the year since December 2006, while Petroleum fuels increased by 22.6%. In December 2007, there was a monthly decrease in Energy products of 0.7%, while Petroleum fuels decreased by 2.2%.

© Copyright 2009 by Finfacts.com

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