Monthly Irish factory gate prices
fell by 0.4% in August 2011. This compares to an increase of 0.2% recorded for
August 2010. As a result, the annual percentage change showed a decrease of 1.0%
in August 2011, compared with a decrease of 0.4% in the year to July 2011.
As Irish manufacturing is
overwhelmingly dominated by US firms, monthly average weighted price changes
usually follow changes in the rate of the euro versus the US dollar.
For example, while prices in many sectors
increased, prices of electronic
an pharmaceutical products, fell.
The Central Statistics Office said
that in the month, the price index for export sales decreased by 0.5% while the
index for home sales increased by 0.1%. In the year there was a decrease of 2.2%
in the price index for export sales (this can be influenced by currency
fluctuations) and an increase of 4.7% in respect of the price index for home
In the month the most significant
changes were increases in fish and fish products (+1.9%), electrical equipment
(+1.4%), and Grain milling, starches and animal feeds (+1.0%) while there were
decreases in other food products including bread and confectionary (-1.1%),
computer, electronic and optical products (-0.8%) and basic pharmaceutical
products and pharmaceutical preparations (-0.6%).
Contributing to the annual change
were increases in dairy products (+10.1%), meat and meat products (+8.1%) and
other manufacturing including medical and dental Instruments and Supplies
(+3.2%), while there were decreases in computer, electronic and optical products
(-6.4%), basic pharmaceutical products and pharmaceutical preparations (-3.6%)
and other food products including bread and confectionary (-1.1%).
The yearly price index for mining
and quarrying increased by 7.4% while there was a monthly increase of 0.2%.
Building and Construction All
materials prices increased by 2.0% in the year since August 2010. The most
notable yearly changes were increases in copper pipes and fittings (+25.9%),
insulating materials (+11.9%) and
other timber excluding windows and doors (+8.3%) while there were decreases in
PVC pipes and fittings (-9.6%), precast concrete (-8.8%) and protection and
communication equipment (-4.2%). Building and
Construction All material prices increased by 0.6% in the month.
Year on year, the price of Capital
Goods decreased by 2.8%, while the monthly price index increased by 0.3%.
The price of Energy products increased by 3.3% in the year since August 2010,
while petroleum fuels increased by 9.1%. In August 2011, the monthly price index
for energy products decreased by 1.4%, while petroleum fuels decreased by 3.7%.