Producer Prices in Manufacturing Decline
The CSO said producer prices in manufacturing fell 2.4% in March from February, deepening the annual decline to 1.9%. This followed a smaller year-on-year drop of 0.5% in February. Wholesale electricity prices showed a decrease in March, with a 2.4% fall in the overall producer price index for manufacturing industries.
Sector-Specific Price Trends in March
Export producer prices were down 2.2% annually in March, while prices for goods sold on the domestic market rose 1.3%. The food sector saw significant price growth over the year, with dairy products up 22%, meat and meat products rising 5.7%, and other food products climbing 5.9%. However, prices for vegetable oils and animal fats fell 16% on the year.
Among other industrial goods, chemicals dropped 14% and rubber and plastic products declined 2.7%, while fabricated metal products and furniture recorded annual increases of 3.5% and 3.3%, respectively.
Impact of Energy Prices on Wholesale Prices
In construction, the all materials index rose 1.0% annually and 0.2% on the month. Price rises were strongest for concrete blocks and bricks, up 7.7%, and cement, up 5.7%. Reinforcing metal prices fell 8.1% in the 12 months to March. The CSO said energy prices broadly fell in the month, with the overall energy products index down 6.6% from February but still 33% higher than a year earlier.
