Manufacturing output costs 'slowed sharply' in June

Despite output price inflation slowing last month, costs did remain elevated and the rate of inflation was still faster than in any month prior to the Covid-19 pandemic

Higher charges for energy and transportation were the main factors pushing up cost burdens, according to the AIB Manufacturing PMI survey respondents. Picture: David Creedon

Despite ongoing high costs of raw materials used in Ireland’s manufacturing sector, buyers’ pockets were not as badly affected compared to previous months, according to a new survey.

Although inflation on input prices “is still intense",
with marked increases in energy and transportation costs, the rate of output price inflation slowed sharply to a five-month low in June, as shown in the survey carried out by AIB.