Business Irish

Saturday 1 October 2016

Factory gate prices rise by 5.4pc

Published 23/09/2015 | 02:30

The price of goods destined for exports slipped by 0.9pc month-on-month, but rose 7pc on the year
The price of goods destined for exports slipped by 0.9pc month-on-month, but rose 7pc on the year

Factory gate prices were up 5.4pc in August compared with the same period last year, although the rate of increase eased compared with July.

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The price of goods destined for exports slipped by 0.9pc month-on-month, but rose 7pc on the year thanks in part to currency fluctuations, most likely caused by the higher value of sterling.

The biggest monthly increase was in the cost of wood and wood products, which rose 2.7pc, while there were decreases in other food products including bread and confectionary, which slipped 2pc.

Computer, electronic and optical products were down 1pc on the month, while basic pharmaceutical products were down 0.8pc.

Contributing to the annual change were increases in computer, electronic and optical products, which rose 15.6pc, while basic pharmaceutical products and pharmaceutical preparations were up 8.2pc and other food products including bread and confectionery rose 5.8pc.

Irish Independent

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