Annual Manufacturing Prices Down 2.6% In July

Monthly factory gate prices decreased by 0.8% in July 2008. This compares to a decrease of 1.0% recorded for July 2007. As a result, the annual percentage change showed a decrease of 2.6% in July 2008, compared with a decrease of 2.8% in June 2008.

In the month, the price index for export sales decreased by 1.0% while the index for home sales decreased by 0.1%. In the year there was a decrease in the price index for export sales of 4.6% and an increase of 5.8% in respect of the price index for home sales.

In the month the most significant changes were decreases in Basic chemicals (down 1.6%), Office machinery and computers (falling 1.8%), and Pharmaceuticals and other chemical products (incl. man-made fibres) (down 1.6%), while there was an increase in Basic metals (up 12.6%).

Contributing to the annual change were decreases in Office machinery and computers and Basic chemicals, while there were increases in Meat and meat products and Other food products.

The yearly price index for Mining and quarrying decreased by 11.8% while there was a monthly increase of 1.6%.

Building and Construction All material prices increased by 4.5% in the year since July 2007. The most notable yearly changes were increases in Reinforcing metal (up 28.5%), Bituminous emulsions (up 28.1%), and Structural steel (up 20.7%).

Year on year, the price of Capital Goods increased by 2.9%, while there was a monthly price increase of 0.2%.

The price of Energy products increased by 6.5% in the year since July 2007, while Petroleum fuels increased by 40.1%. In July 2008, there was a monthly increase in Energy products of 1.4%, while Petroleum fuels increased by 4.2%.