Ireland Wholesale Prices Fall 1.9%

(RTTNews) - Ireland's wholesale prices decreased for the second straight month in March, data from the Central Statistics Office showed on Thursday.

Output prices in the manufacturing industry dropped 1.9 percent year-over-year in March, following a 0.5 percent decrease in February. Further, this was the biggest decline in six months.

Prices for chemicals and chemical products slumped by 13.6 percent, and those for rubber and plastic products slid by 2.7 percent.

Meanwhile, factory gate prices for food products grew 6.9 percent from last year, largely due to higher costs for dairy products. The price index for food products, beverages, and tobacco climbed 5.8 percent.

Prices for domestic sales increased 1.3 percent in March from a year ago, and those for the export market dropped by 2.2 percent.

Data also showed that wholesale electricity prices surged 52.0 percent annually in March, and those for construction products rose by 1.0 percent.

On a monthly basis, wholesale prices dropped 2.4 percent versus a 0.9 percent fall in February.