Business Irish

Saturday 25 March 2017

Factory gate prices fell 0.8pc in the year to April

Thomas Molloy

Thomas Molloy

THE price of goods leaving Irish factory gates fell 0.8pc in the year to April as the price of computers and pharmaceuticals fell, the Central Statistics Office said yesterday. The fall dampened fears about price pressures which have pushed up inflation in recent months.

According to the CSO, the output price index fell 0.7 between March and April. This is against a 1pc rise in the same period last year.

The price of export sales fell 2pc during the year as the cost of capital goods, pharmaceutical products and computer products slid. The price of such products, which tend to be made by multinationals, can be influenced by currency fluctuations, the CSO noted yesterday.

There were significant rises in many products associated with the traditional sector. The price of dairy products leaving factories soared 9.2pc in the year, while meat and meat products jumped 8.4pc as commodity prices continue to rise worldwide.

Energy products rose 6pc in the year, while petroleum fuels advanced 17pc.

Eurostat, the European Commission's statistics agency, said yesterday that European industrial orders unexpectedly declined following a fall in demand for durable consumer goods, such as appliances and furniture.

Orders in the euro area slipped 1.8pc in March from February, the Luxembourg-based statistics office said. Economists had forecast a drop of 1.1pc. Industrial orders in Ireland tumbled 13pc in March.

Irish Independent

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