Prices paid for raw materials by manufacturers fell in April for the first time since November 2021, new Central Statistics Office figures show today.
The Wholesale Price Index fell by 1% compared to March and by 0.7% compared to April 2022.
Producer prices for exported goods fell by 1% in the month and are down 1.2% on an annual basis. Producer prices for goods made for the domestic market fell by 0.2% in the month and are still 7.8% higher than in April last year.
The wholesale price of electricity continues to fall. It fell by 13.5% in April compared to March and is down 42.5% compared to April last year.
The price of energy products, excluding electricity, was down 11.4% on an annual basis.
The price of food products fell for the second consecutive month, by 2.2% in April. But on an annual basis, they are up 0.8%.
Dairy products fell by 2.4% in the month but are still 6.8% higher than a year ago. Animal feed fell 1.3% but is still up 8.7% compared to last year.
While the price of fruit and vegetables did not budge in April, they were still 17.8% more expensive than a year ago.
Meanwhile, the CSO said the Building and Construction index, which includes wages paid to construction workers, rose by 0.8% in April and is up 7.7% on an annual basis.
The price of some building materials continued to rise both on a monthly and annual basis.
The price of plaster is up 35.6%, ready mix concrete rose by 27.4% and concrete blocks increased by 19.1% – all on annual basis. The price of some steel products did fall, however.
Overall, the price of construction materials rose by 1.5% in April while on an annual basis, they are up 11.7%.