Source: CSO

Irish monthly factory gate/manufacturing prices decreased by 0.6% in July 2009, according to the CSO. This compares to a decrease of 0.8% recorded for July 2008. As a result, the annual percentage change showed an increase of 0.3% in July 2009, compared with an increase of 0.1% in June 2009. The movement of the US dollar versus the euro is a key factor in Ireland bucking the current international trend as US firms dominate Ireland's manufacturing.

Last year, when German prices were surging, Ireland's factory gate prices were falling because of the high value of the euro versus the dollar.

On Wednesday, it was reported that German producer prices fell at the fastest pace in 60 years in July as energy costs dipped.

Prices fell 7.8% from a year earlier after falling 4.6% in June, the Destatis, the German statistics office said today. That was the biggest drop since 1949 .

In the month of July, the Irish price index for export sales decreased by 0.7% while the index for home sales increased by 0.1%. In the year there was an increase in the price index for export sales of 0.6% (this can be influenced by currency fluctuations) and a decrease of 0.7% in respect of the price index for home sales.

In the month of July, the most significant Irish changes were decreases in Meat and meat products (-1.9%), Office machinery and computers (-1.2%), and Basic chemicals (-0.8%).

Contributing to the annual change were increases in Pharmaceuticals and other chemical products (incl. man-made fibres) (+7.2%), Office machinery and computers (+6.8%), and Other food products including bread and confectionery (+5.5%), while there were decreases in Meat and meat products (-8.1%), Dairy products (-8.0%), and Basic chemicals (-3.7%).

The yearly price index for Mining and quarrying decreased by 9.5% while there was a monthly decrease of 2.5%.

A further analysis of Wholesale price changes by sector of use shows that: Building and Construction All material prices decreased by 5.5% in the year since July 2008. The most notable yearly changes were decreases in Reinforcing metal (-31.3%), and Structural steel (-20.0%). There was no change in Building and Construction All material prices in the month.

Year on year, the price of Capital Goods decreased by 2.0%, while there was a monthly price decrease of 0.1%.

The price of Energy products decreased by 9.3% in the year since July 2008, while Petroleum fuels decreased by 29.4%. In July 2009, there was a monthly decrease in Energy products of 1.6%, while Petroleum fuels decreased by 5.7%.