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.