Factory gate prices up 4.5% in March

FACTORY gate prices — or the price of goods charged for by manufacturers, when transport costs are excluded — grew on a year-on-year basis by 4.5% in March; the largest annualised level seen since last November.

New figures published yesterday by the Central Statistics Office (CSO), as part of its monthly wholesale price index, showed that the annualised monthly increase in prices was up by 0.6% compared to the 3.9% year-on-year rise measured in February’s index. March’s annualised increase was also the second highest rise since these records began back in 2001.

When prices were measured on a rolling monthly basis, a slightly different pattern was evident. Following a 0.4% and 0.9% rise in January and February, March followed with a 1% dip. A 2.1% drop in office machinery and computers and a 1.1% fall in “basic chemical” prices, were the most significant falls in the month.