Annual Irish Manufacturing Prices fell 1.6% in year to February 2007

Irish
Annual Irish Manufacturing Prices fell 1.6% in year to February 2007
By Finfacts Team
Mar 22, 2007, 12:16

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Source: CSO

The CSO reported today that Irish factory gate prices decreased by 0.6% in February 2007. This compares to an increase of 0.7% recorded for February of last year. As a result, the annual percentage change showed a decrease of 1.6% in February 2007, which compares to a decrease of 0.4% in January 2007.

In the month, the index for export sales decreased by 0.6% while the index for home sales decreased by 0.4%. In the year there was a decrease in export sales of 2.0% and an increase in home sales of 0.5%.

In the month the most significant changes were decreases in Basic chemicals (-1.0%), and Office machinery and computers (-2.5%), while there was an increase in Pharmaceuticals and other chemical products (incl. man-made fibres) (+2.0%).

Contributing to the annual change was a decrease in Office machinery and computers (-11.2%), and Basic chemicals (-1.5%), while there were increases in Meat and meat products (+3.7%), and Pharmaceuticals and other chemical products (incl. man-made fibres) (+2.5%).

The yearly price index for Mining and quarrying increased by 12.0% while there was a monthly decrease of 6.0%.

Breaking down Wholesale price changes by sector of use shows that:

Building and construction All material prices increased by 7.5% in the year since February 2006. The most notable yearly changes were increases in Bituminous macadam and asphalt (+13.2%), All other materials (+11.1%), and Electrical fittings (+9.1%). Building and construction All material prices increased by 0.1% in the month.
Year on year, the price of Capital goods increased by 4.6%, while there was a monthly price increase of 0.1%.
The price of Energy products increased by 7.0% in the year since February 2006, while Petroleum fuels decreased by 7.6%. In February 2007, there was a monthly increase in Energy products of 0.3%, while Petroleum fuels increased by 1.1%.