24/07/2009

Factory Gate Prices Grow

It emerged this week that the overall benchmark factory gate price paid for goods leaving Irish factories has gone up.

However, it was only marginal, rising by just 0.1% over the year to June, according to data from the Central Statistics Office (CSO).

Conversely, the wholesale price index, which measures the selling price of goods manufactured in the State, decreased by 0.2% in the month of June compared to a rise of 1.3% in May.

The index had a reading of 87.6 in June and took prices in 2000 as a benchmark when it set the baseline at 100.

Last month the most significant changes were a 0.8% in prices for pharmaceuticals and chemical products and a 0.7% fall in prices for office machinery.

Over the last year pharmaceuticals and chemical product prices have risen 6.5% while food products are up by almost 5%.

Farmers are less than impressed with another figure as the prices for dairy products have fallen 7.5% over the last year while meat products are also down - by 5.9%.

(BMcC/JM)

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