Wholesale prices for Irish goods fell 0.9pc in July

Prices at the factory gate fell 0.9pc last month driven chiefly by lower prices for dairy goods.

he Central Statistics Office’s monthly Wholesale Price Index said average prices for dairy goods fell 5.2pc in July from the month before. It was by far the sharpest monthly decline within the broad basket of goods monitored by the CSO.

Dairy is the biggest element of Ireland’s food exports. Based on other recent trade reports from the CSO and Bord Bia, it has been the most resilient performer during the Covid-19 pandemic.

Overall, the prices for food products fell by 1.3pc this month. This included 0.2pc monthly falls for baked goods and fish products. Meat prices, however, rose by 0.5pc, continuing a modest recovery from the start of the pandemic.

Mining and quarrying – including of zinc used chiefly by European automakers and parts manufacturers – saw prices rise 3.1pc from June.

The cost of building materials in July offered a mixed picture following earlier sharp rises for some goods following the reopening of construction sites in mid-May.

Stone, sand and gravel slipped by 0.2pc following strong price gains in June during the first full month of site reopenings.

The cost of copper fittings rose 0.6pc and plaster 0.5pc from June. But glass prices fell 3pc.

Online Editors

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