Prices rise 3% annually: CSO

Wholesale prices rose nearly 3% on a year-on-year basis last month, according to CSO data.

Prices, when measured on an annualised basis, have now increased for eight straight months. Last August, when a 1% year-on-year fall was seen, was the last fall on this basis.

The April wholesale price index, published yesterday, show that, on a monthly basis, factory gate prices — which measure the price of goods charged for by manufacturers, excluding transport costs — actually fell by 0.5% in the month, but were up by 2.8% on a year-on-year basis. In April 2011, the monthly price movement was a 0.7% decline.

The CSO said the main movements in wholesale pricing during April were a 0.7% rise in computer, electronic, and optical products, and a 0.5% rise in meat product prices. There were, however, also monthly falls in the wholesale prices of dairy products (down 4.1%) and pharmaceutical products (down 3.3%).

On an annualised basis, the biggest price increases were seen in computer and electronic goods (up nearly 10%); meat (up 5.9%) and other food products, including bread and confectionery (up 5.7%). Dairy product prices and pharmaceutical goods prices fell on a year-on-year basis, just as they did in the month.

Also, in the 12 months, all building and construction materials prices increased by 3%, while the wholesale price of energy prices rose by 2%.