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For more information on this release:
E-mail: wpi@cso.ie Tony Kelleher (+353) 21 453 5096 Chris Moriarty (+353) 21 453 5447 Deirdre Dalton (+353) 21 453 5450
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 Visit StatCentral.ie, the portal to Ireland's official statistics On-line ISSN 2009-5198
CSO statistical release, 22 January 2018, 11am

Wholesale Price Index

December 2017

 Price index (Year ‘10=100)% monthly change% annual change
Oct 2017103.21.3%-2.3%
Nov 2017102.8-0.4%-3.6%
Dec 2017103.20.4%-3.6%

Annual Manufacturing Prices decrease by 3.6% in December

Figure 1 - Manufacturing Industries Output Price Index
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Monthly factory gate prices increased by 0.4% in December 2017. This compares to an increase of 0.5% for December of last year. The annual percentage change showed a decrease of 3.6% in December 2017, similar to the decrease in the year to November 2017.  See graph across and table 1.

In the month, the price index for export sales increased by 0.4%, while the index for home sales increased by 0.6%. In the year there was a decrease of 4.6% in the price index for export sales (this can be influenced by currency fluctuations) and an increase of 3.7% in respect of the price index for home sales.  See table 2 and Figure 2.

In the month, the most significant changes were increases in Printing and reproduction of recorded media (+6.0%), Dairy products (+5.2%) and Meat and meat products (+1.2%) while there was a decrease in Basic pharmaceutical products and pharmaceutical preparations (-0.7%).  See tables 2 and 2A.

Contributing to the annual change were decreases in Basic pharmaceutical products and pharmaceutical preparations (-10.1%), Chemicals and chemical products (-8.7%) and Other manufacturing including medical and dental instruments and supplies (-4.1%) while there were increases in Dairy products (+22.1%), Basic metals (+15.9%) and Meat and meat products (+1.5%).  See tables 2 and 2A.

The yearly price index for Mining and quarrying decreased by 1.4% while the monthly index increased by 1.0%.  See table 2.

Building and Construction All materials prices increased by 3.0% in the year since December 2016. The most notable yearly changes were increases in Glass (21.7%), Stone (+8.6%) and Hardwood (+7.9%) while there were decreases in Other concrete excluding precast concrete (-0.8%) and Insulating materials (-0.6%). Building and Construction All materials prices increased by 0.4% in the month.  See table 3.

Year on year, the price of Capital goods increased by 1.6%, while the monthly price increased by 0.2%.  See table 4.

The price of Energy products increased by 6.0% in the year since December 2016, while Petroleum fuels increased by 1.0%. In December 2017, the monthly price index for Energy products increased by 1.1%, while Petroleum fuels decreased by 0.9%.  See table 5.

HomeExport
Jan 201097.1100.2
Feb 201098.4100.6
Mar 201097.8100.1
Apr 2010100101.1
May 2010101.5100.7
Jun 201099.7100.5
Jul 2010100.1100.1
Aug 2010100.5100.2
Sep 2010101100.2
Oct 2010100.497.8
Nov 201010299.2
Dec 2010101.599
Jan 2011102.8100.1
Feb 201110499.8
Mar 2011105.299.6
Apr 2011106.998.7
May 2011108.699.8
Jun 2011106.699.2
Jul 2011106.799.1
Aug 2011106.998.6
Sep 201110799.9
Oct 2011106.199.7
Nov 2011106.8100.7
Dec 2011107100.5
Jan 2012108.3102
Feb 2012108.7101.2
Mar 2012109101.2
Apr 2012110.399.8
May 2012110.5100.5
Jun 2012109.1101.1
Jul 2012107.7102.8
Aug 2012109.3103.1
Sep 2012109.3100.5
Oct 2012109.1100.8
Nov 2012110101.6
Dec 2012109.3100.7
Jan 2013108.6100.5
Feb 2013109.6100.3
Mar 2013111.4101.1
Apr 2013110.9101.3
May 2013110.4101.9
Jun 2013110.5100.6
Jul 2013110.7101.3
Aug 2013112.2100.9
Sep 2013111.5100.7
Oct 2013110.9100.3
Nov 2013110.8100.4
Dec 2013110.698
Jan 2014110.698.4
Feb 2014110.498.3
Mar 2014110.297.5
Apr 2014110.298.2
May 2014110.798.2
Jun 2014110.898.5
Jul 2014110.998.4
Aug 2014110.698.8
Sep 2014110.5100.2
Oct 2014110.4100.8
Nov 2014108.7101.4
Dec 2014107.5101.1
Jan 2015104.7104.1
Feb 2015103.7105.4
Mar 2015106.6109.1
Apr 2015106.4109.2
May 2015106.1106.2
Jun 2015106.4106.5
Jul 2015107.8106.7
Aug 2015106.8105.7
Sep 2015104.8104.6
Oct 2015103.4104
Nov 2015103.7107.3
Dec 2015103.4106
Jan 2016102106.2
Feb 2016100.5105.5
Mar 2016100.6105.8
Apr 2016102105.1
May 2016102.7104.8
June 2016103.7105.3
July 2016103.8105.7
Aug 2016102.7105.3
Sep 2016102.7105
Oct 2016103106
Nov 2016104.5106.9
Dec 2016103.9107.6
Jan 2017105107.7
Feb 2017106107.5
Mar 2017107107.4
Apr 2017105.9106.8
May 2017107.1105.5
Jun 2017105.9104.5
July 2017105.3103.2
August 2017105.6101.9
Sep 2017105.9101.3
Oct 2017107.5102.5
Nov 2017107.1102.2
Dec 2017107.7102.6
Table 1 Manufacturing Industries Output Price Indices (excluding VAT)
 Base: Year 2010 as 100
PeriodManufacturing Industries Output Price Index Manufacturing Industries Output Price Index (Home Sales) Manufacturing Industries Output Price Index (Export Sales)
Price Index% Change on preceding periodAnnual % change Price Index% Change on Preceding Period Price Index% Change on Preceding Period
2010Year100.0--100.0-100.0-
2011Year100.50.50.5106.26.299.6-0.4
2012Year102.41.91.9109.22.8101.31.7
2013Year102.0-0.4-0.4110.71.4100.6-0.7
2014Year100.7-1.3-1.3110.1-0.599.2-1.4
2015Year106.15.45.4105.3-4.4106.27.1
2016Year105.4-0.7-0.7102.7-2.5105.8-0.4
2017Year104.7-0.7-0.7106.33.5104.4-1.3
           
2014Quarter 199.8-1.3-2.1 110.4-0.4 98.1-1.5
 Quarter 2100.00.2-2.4 110.60.2 98.30.2
 Quarter 3100.70.7-1.7 110.70.1 99.10.8
 Quarter 4102.21.51.1 108.9-1.6 101.12.0
           
2015Quarter 1106.03.76.2 105.0-3.6 106.25.0
 Quarter 2107.21.17.2 106.31.2 107.31.0
 Quarter 3105.8-1.35.1106.50.2105.7-1.5
 Quarter 4105.5-0.33.2103.5-2.8105.80.1
           
2016Quarter 1105.2-0.3-0.8 101.0-2.4 105.80.0
 Quarter 2104.8-0.4-2.2 102.81.8 105.1-0.7
 Quarter 3105.00.2-0.8 103.10.3 105.30.2
 Quarter 4106.41.30.9 103.80.7 106.81.4
           
2017Quarter 1107.30.82.0 106.02.1 107.50.7
 Quarter 2105.7-1.50.9 106.30.3 105.6-1.8
 Quarter 3102.6-2.9-2.3 105.6-0.7 102.1-3.3
 Quarter 4103.10.5-3.1 107.41.7 102.40.3
           
2014January100.10.4-1.5 110.60.0 98.40.4
 February99.9-0.2-1.7 110.4-0.2 98.3-0.1
March99.3-0.6-3.1110.2-0.297.5-0.8
April99.80.5-2.7110.20.098.20.7
 May99.90.1-3.1 110.70.5 98.20.0
June100.20.3-1.7110.80.198.50.3
 July100.1-0.1-2.4 110.90.1 98.4-0.1
August100.40.3-2.0110.6-0.398.80.4
 September101.61.2-0.6 110.5-0.1 100.21.4
October102.10.50.3 110.4-0.1 100.80.6
November102.40.30.6 108.7-1.5 101.40.6
 December102.0-0.42.3 107.5-1.1 101.1-0.3
  
2015January104.22.24.1 104.7-2.6 104.13.0
 February105.10.95.2 103.7-1.0 105.41.2
 March108.73.49.5 106.62.8 109.13.5
 April108.80.19.0 106.4-0.2 109.20.1
 May106.2-2.46.3 106.1-0.3 106.2-2.7
 June106.50.36.3 106.40.3 106.50.3
 July106.90.46.8 107.81.3 106.70.2
 August105.8-1.05.4 106.8-0.9 105.7-0.9
 September104.6-1.13.0 104.8-1.9 104.6-1.0
 October103.9-0.71.8 103.4-1.3 104.0-0.6
November106.92.94.4 103.70.3 107.33.2
 December105.7-1.13.6 103.4-0.3 106.0-1.2
           
2016January105.6-0.11.3 102.0-1.4 106.20.2
 February104.8-0.8-0.3 100.5-1.5 105.5-0.7
 March105.10.3-3.3 100.60.1 105.80.3
 April104.7-0.4-3.8 102.01.4 105.1-0.7
 May104.5-0.2-1.6 102.70.7 104.8-0.3
 June105.10.6-1.3 103.71.0 105.30.5
 July105.50.4-1.3 103.80.1 105.70.4
 August104.9-0.6-0.9 102.7-1.1 105.3-0.4
 September104.7-0.20.1 102.70.0 105.0-0.3
October105.60.91.6 103.00.3 106.01.0
November106.60.9-0.3 104.51.5 106.90.8
 December107.10.51.3 103.9-0.6 107.60.7
         
2017January107.30.21.6 105.01.1 107.70.1
February107.30.02.4106.01.0107.5-0.2
March107.30.02.1107.00.9107.4-0.1
 April 106.6-0.71.8 105.9-1.0 106.8-0.6
 May105.7-0.81.1 107.11.1 105.5-1.2
 June104.7-0.9-0.4 105.9-1.1 104.5-0.9
 July103.5-1.1-1.9 105.3-0.6 103.2-1.2
 August102.4-1.1-2.4 105.60.3 101.9-1.3
 September101.9-0.5-2.7 105.90.3 101.3-0.6
 October103.21.3-2.3 107.51.5 102.51.2
 November102.8-0.4-3.6 107.1-0.4 102.2-0.3
 December103.20.4-3.6 107.70.6 102.60.4
Table 2 Industrial Producer Price Indices (excluding VAT)
Base: Year 2010 as 100
Industrial SectorNACE code1Index Monthly % Change Annual % Change
Nov 2017Dec 2017Year 2017 Nov 2017Dec 2017 Dec 2017Year3 2017
  
Food Products10113.4115.2115.1 -0.61.6 3.54.5
        Meat and meat products101120.5122.0122.1 -0.71.2 1.52.4
        Fish and fish products102136.0147.5133.4 0.38.5 6.74.4
        Fruit and vegetables10398.198.198.6 0.00.0 -3.6-3.1
        Vegetable and animal oils and fats104112.1112.1112.8 0.00.0 0.73.7
        Dairy products105124.1130.6120.3 -0.85.2 22.117.8
        Grain milling, starches and animal feeds106,109111.6112.0111.6 -0.40.4 -0.3-1.8
        Bakery and farinaceous products107100.5101.0101.0 -0.10.5 0.60.9
        Other food products108107.2107.6111.2 -0.60.4 -0.72.8
Beverages11104.7104.8106.2 -0.10.1 -3.1-1.8
Textiles13103.1103.2103.2 0.00.1 0.10.0
Wearing apparel14106.5107.0105.7 -0.10.5 1.90.5
Leather and leather products (incl. footwear); dressing and dyeing of fur15106.0106.1106.1 -0.10.1 -0.2-0.3
Wood and wood products16121.3121.7120.4 -0.10.3 0.30.2
Pulp, paper and paper products1798.399.398.6 -0.81.0 -1.0-1.9
Printing and reproduction of recorded media18102.0108.1107.3 -0.86.0 -2.5-4.6
Chemicals and chemical products2095.095.2102.0 -6.60.2 -8.7-1.5
Basic pharmaceutical products and pharmaceutical preparations2188.788.191.9 -0.1-0.7 -10.1-4.6
Rubber and plastic products22102.3102.5102.7 -0.10.2 -0.2-0.7
Other non-metallic mineral products23105.0105.3104.6 0.10.3 1.31.2
Basic metals24127.7129.1124.3 -0.21.1 15.920.0
Fabricated metal products, except machinery and equipment25107.2107.5107.4 0.10.3 0.10.4
Computer, electronic and optical products26131.6131.9130.6 -0.20.2 -1.32.2
Electrical equipment27106.0106.4105.8 -0.30.4 0.3-0.8
Machinery and equipment n.e.c.28109.7109.9111.0 -0.10.2 -1.80.4
Motor vehicles, trailers and semi-trailers2995.996.095.5 0.20.1 0.31.1
Furniture 31109.1109.4107.0 0.00.3 1.9-0.8
Other Manufacturing32106.2106.2106.3 0.00.0 -4.1-5.2
Mining and quarrying05-09126.4127.7124.6 -0.11.0 -1.47.5
           
Total transportable goods industries 103.1103.5104.9 -0.40.4 -3.5-0.6
           
Food products, Beverages and Tobacco Products10-12112.6114.3114.4 -0.41.5 2.83.9
Manufacturing industries excluding Food Products  100.1100.2102.0 -0.40.1 -5.5-2.0
Manufacturing industries excluding Food Products, Beverages and Tobacco Products 99.9100.0101.8 -0.40.1 -5.5-2.0
Intermediate goods industries (except energy) 109.4109.7110.2 -1.40.3 -0.51.1
Capital goods industries 119.6119.7119.3 -0.20.1 -2.9-0.8
Durable consumer goods industries 107.0107.2106.1 0.00.2 -0.3-1.9
Non-durable consumer goods industries 97.197.5100.0 -0.30.4 -5.2-1.3
           
Manufacturing industries (home sales)2 107.1107.7106.3 -0.40.6 3.73.5
Manufacturing industries (export sales)2 102.2102.6104.4 -0.30.4 -4.6-1.3
Total manufacturing industries2 102.8103.2104.7 -0.40.4 -3.6-0.7
1 Nace Rev. 2 Statistical classification of economic activities in the European Community.
2 Excludes Mining and quarrying.
3 Annual average for 2017 relative to the annual average for 2016.
Table 2A Contribution to changes in the Manufacturing Output Price Index, December 2017 (Table 2)
Industrial sectorNACE code 1 Contribution to overall % change2
 One monthTwelve months
Food Products10 0.380.80
       Meat and meat products101 0.070.08
       Fish and fish products102 0.050.04
       Fruit and vegetables103 0.00-0.01
       Vegetable and animal oils and fats104 0.000.00
       Dairy products105 0.220.77
       Grain milling, starches and animal feeds106,109 0.000.00
       Bakery and farinaceous products107 0.000.00
       Other food products108 0.03-0.09
Beverages11 0.00-0.08
Tobacco Products12 0.000.00
Textiles13 0.000.00
Wearing apparel14 0.000.00
Leather and leather products (incl. footwear); dressing and dyeing of fur15 0.000.00
Wood and wood products16 0.000.00
Pulp, paper and paper products17 0.000.00
Printing and reproduction of recorded media18 0.09-0.04
Coke and refined petroleum products19 0.120.30
Chemicals and chemical products20 0.00-0.24
Basic pharmaceutical products and pharmaceutical preparations21 -0.22-3.75
Rubber and plastic products22 0.000.00
Other non-metallic mineral products23 0.000.02
Basic metals24 0.010.12
Fabricated metal products, except Machinery and equipment25 0.000.00
Computer, electronic and optical products26 0.03-0.20
Electrical equipment27 0.000.00
Machinery and Equipment n.e.c.28 0.01-0.04
Motor vehicles, trailers and semi-trailers29 0.000.00
Other transport equipment30 0.000.00
Furniture 31 0.000.01
Other Manufacturing32 0.00-0.37
Repair and Installation of machinery and equipment33 0.000.00
Mining and quarrying05-09 0.01-0.02
1 Nace Rev. 2 Statistical classification of economic activities in the European Community.
2 See Background Notes.
Table 3 Detailed Wholesale Price Indices (excluding VAT) for Building and Construction Materials
Base: Year 2010 as 100
MaterialsIndex Monthly % Change Annual % Change
Nov 2017Dec 2017Year 2017 Nov 2017Dec 2017 Dec 2017Year1 2017
  
Stone, sand and gravel155.2160.4155.6 -3.83.4 8.38.1
       Stone150.3154.7150.3 -4.12.9 8.67.1
       Sand and gravel181.8190.8184.3 -2.55.0 7.212.7
Cement105.0105.0103.9 0.00.0 4.43.3
Ready mixed mortar and concrete103.3104.0103.5 -0.10.7 0.21.3
Concrete blocks and bricks111.7111.0110.8 0.5-0.6 0.51.0
Other concrete products101.1101.1100.7 0.00.0 0.80.1
       Precast concrete101.8101.898.9 0.00.0 6.94.7
       Other concrete products (Excluding precast concrete)99.199.199.6 0.00.0 -0.8-1.3
Structural steel and reinforcing metal115.0114.9113.0 0.2-0.1 6.65.9
       Structural steel117.9117.9115.6 0.10.0 7.57.0
              Fabricated metal120.3120.3118.0 0.10.0 7.77.5
              Other Structural steel100.0100.096.9 0.00.0 5.51.9
       Reinforcing metal110.2110.0108.8 0.2-0.2 5.04.0
       Other steel products102.6102.6102.6 0.00.0 0.0-0.1
Rough timber (including plain sawn)116.9116.9113.8 0.00.0 5.92.2
       Hardwood145.7145.7144.8 0.00.0 7.90.7
       Other114.2114.2110.9 0.00.0 5.62.4
Other timber100.4100.499.9 0.00.0 1.10.6
       Windows and doors102.6102.6101.6 0.00.0 2.11.1
       Other97.897.897.8 0.00.0 0.00.0
Bituminous macadam, asphalt and bituminous emulsions159.6160.4155.1 3.50.5 2.61.2
       Bituminous macadam and asphalt162.9163.7158.2 3.60.5 2.61.2
       Bituminous emulsions94.095.393.5 0.11.4 4.54.7
Electrical fittings110.2110.1109.8 0.0-0.1 0.91.1
       Lighting equipment116.6116.6116.6 0.00.0 0.00.7
       Protection & communication equipment 97.698.097.5 0.00.4 0.80.6
All other materials115.0115.2114.7 0.00.2 3.03.8
       Plumbing materials incl. sanitary ware102.7102.7102.7 0.00.0 0.00.0
       HVAC (heating & ventilation equipment) 101.8101.8101.4 0.00.0 1.61.3
       Insulating materials123.2123.2124.0 0.00.0 -0.60.4
       Pipes and fittings124.7124.7123.9 0.00.0 2.85.0
              PVC110.1110.1110.5 0.20.0 1.92.8
              Copper130.4130.4129.1 0.00.0 3.25.7
       Plaster116.8117.3114.0 -0.20.4 6.54.7
       Paints, oils and varnishes105.9105.9105.8 0.00.0 1.00.7
       Glass149.8149.8145.4 0.00.0 21.717.7
       All other metal fittings106.0106.0105.8 0.00.0 1.00.6
       All other products113.9114.2113.8 0.00.3 3.94.7
All materials114.4114.9113.9 -0.30.4 3.03.2
1 Annual average for 2017 relative to the annual average for 2016.
Table 4 Capital Goods Price Indices (excluding VAT)
Base: Year 2010 as 100
Capital goodsIndex Monthly % Change Annual % Change
Nov 2017Dec 2017Year 2017 Nov 2017Dec 2017 Dec 2017Year2 2017
  
Transportable capital for use in         
                Agriculture112.0112.0111.9 0.00.0 0.40.4
                Industry105.8105.9105.6 0.10.1 1.31.4
        of which:         
                Private vehicles1103.2103.2102.9 0.00.0 0.60.7
                Commercial vehicles101.5101.5101.3 0.10.0 0.40.7
Agriculture and industry106.8106.9106.7 0.00.1 1.21.2
Other sectors105.0105.1104.7 0.10.1 1.51.6
Total transportable capital106.0106.0105.7 0.10.0 1.31.3
Building and construction103.6103.9103.4 -0.20.3 1.71.7
(i.e. materials and wages)         
          
All capital goods103.9104.1103.7 -0.20.2 1.61.7
1 Private vehicles are inclusive of VAT which is non-deductible for industry and agriculture.
2 Annual average for 2017 relative to the annual average for 2016.
Table 5 Wholesale Price Indices (excluding VAT) for Energy Products
(i.e. Fuels purchased by Manufacturing Industry)
Base: Year 2010 as 100
Energy fuelsIndex Monthly % Change Annual % Change
Nov 2017Dec 2017Year 2017 Nov 2017Dec 2017 Dec 2017Year2 2017
  
Petrol104.4103.8103.2 2.4-0.6 1.64.7
Autodiesel102.9103.2101.1 1.50.3 0.85.2
Gas oil (other than autodiesel)104.3104.2100.7 3.7-0.1 1.97.4
Fuel oil102.9101.599.6 3.5-1.4 0.89.6
Electricity106.7108.988.3 18.32.1 8.57.8
          
Petroleum fuels1103.2102.3100.2 3.1-0.9 1.08.1
Energy products105.5106.792.3 12.81.1 6.08.0
1 Energy products excluding electricity.
2 Annual average for 2017 relative to the annual average for 2016.

Annual Average Price Changes in Wholesale Prices for 2017

Overall prices received by Irish producers decreased by 0.7% in 2017 following on from a similar decrease in 2016.  The price index for goods sold on the home market increased by 3.5% in 2017, having decreased by 2.5% in 2016. The price index for exported goods decreased by 1.3% in 2017 following a decrease of 0.4% in the previous year.  See table 6.

Producer prices were affected by a number of factors during 2017 including fluctuations in the Euro exchange rate and market demand.  Exchange rates made a significant contribution to price changes during 2017. The average exchange rate for the US dollar and Sterling are shown in Table 7 below. Other global factors also had a major effect on market demand during the year.   

Table 6 Annual average % change in Producer Price Indices for home, export and total sales, 2011 - 2017
Index2011201220132014201520162017
Manufacturing Industries (home sales)6.22.81.4-0.5-4.4-2.53.5
Manufacturing Industries (export sales)-0.41.7-0.7-1.47.1-0.4-1.3
Total Manufacturing Industries0.51.9-0.4-1.35.4-0.7-0.7
Table 7 Annual average exchange rates, 2010 - 2017
Exchange rate€ 2010€ 2011€ 2012€ 2013€ 2014€ 2015€ 2016€ 2017
Pound Sterling0.85790.86480.81080.84920.80820.72570.82040.8761
US Dollar1.32961.38531.28031.32821.33031.11211.10661.1259
Source: European Central Bank

Food, Beverages and Tobacco

The overall index for the Food, Beverages and Tobacco sector increased by 3.9% in 2017 compared with a decrease of 0.8% in 2016.  This increase was due mainly to increased prices in Dairy products and Fish and fish products. The index for Food Products increased by 4.5% in 2017 while Beverages decreased by 1.8%.  

Within the Food sector, prices increased for Dairy Products (+17.8%), Fish and fish products (+4.4%) and Vegetable and animal oils and fats (+3.7%). There were decreases in the prices for Fruit and vegetables (-3.1%) and Grain milling, starches and animal feeds (-1.8%).  See table 8.

Table 8 Annual average % change in Producer Price Indices for Food, Beverages and Tobacco products, 2017
IndexNACE1 code2017
Food, Beverages and Tobacco products10-123.9
Food Products104.5
       Meat and meat products1012.4
       Fish and fish products1024.4
       Fruit and vegetables103-3.1
       Vegetable and animal oils and fats1043.7
       Dairy products10517.8
       Grain milling, starches and animal feeds106,109-1.8
       Bakery and farinaceous products1070.9
       Other food products1082.8
Beverages11-1.8
1 Nace Rev. 2 Statistical classification of economic activities in the European Community.

Background Notes

Wholesale Price Index        

The term Industrial Producer Price Index refers to a family of indices that measure the average change over time in the selling prices received by domestic producers of goods and services. The other three wholesale price index series incorporate imported and home produced goods sold by manufacturers and wholesale outlets.

Coverage

The output price indices for sectors of Manufacturing Industries cover both home sales and export sales.  The Indices for Total transportable goods industries; Food, drink and tobacco; Manufacturing industries excluding food; Manufacturing industries excluding food, drink and tobacco; Intermediate goods industries (except energy); Capital goods industries; Durable consumer goods industries; Non-durable consumer goods industries; Manufacturing industries (home sales); Manufacturing industries (export sales) and Total manufacturing industries are all calculated on a net sector basis, i.e. the weights used to combine the sectoral indices (including those for sectors not distinguished in Table 2) exclude sales to other sectors of Manufacturing Industry.

Table 2A gives the percentage contribution of each sector (including those not published on Table 2) to the overall percentage change on Table 2. The percentage contributions on Table 2A may not add up to the Total Manufacturing industries percentage change on Table 2 due to rounding and other adjustments for presentational purposes.  In comparing these contributions against these percentage changes in indices presented on Table 2 caution should be exercised as the former is calculated on a net sector basis.

The Building Materials, Capital Goods and Energy Products indices (Tables 3, 4 and 5) cover home production and imports of these commodities.  Table 3, the Wholesale Price Index for Building and Construction Materials, provides only a general indication of price trends in that sector.  Actual transaction prices are collected for materials purchased by construction and civil engineering firms. The price indices reflect an ‘average’ over a mixture of products from many companies throughout the country.  They also reflect prices for both long-term and short-term contracts and for high and low volume civil engineering works. It should be noted that long-term, high volume fixed contracts for major works might dilute in the short-term the impact of emerging price changes on the index.  Furthermore, industry sources have confirmed that price increases notified by companies may not always be achieved in practice following negotiations. Much depends on the prevailing market conditions. Therefore changes over the short-term in the indices derived from these transaction prices will not always coincide with price changes notified by companies.

Prices

All indices in the series are based on prices at the 15th of the month. Quarterly and annual indices are simple averages of the corresponding monthly indices.

Prices used in the compilation of the indices are:

  • excluding delivery charges itemised on the invoice separately
  • after discounts or surcharges are applied
  • before addition of direct subsidies
  • exclusive of VAT (except for private vehicles used in Table 4)
  • inclusive of excise duty

Every effort is made by the Wholesale Prices Section to collect all prices for the relevant month. Where this is not possible late prices are included in the following month’s calculations.

Methodology

This Wholesale Price Index series is compiled to base 2010 as 100. A methodological description of this updated series is given in the Wholesale Price Index Introduction of Updated Series base 2010 as 100.

Calculating percentage changes in the index

The movement of the output price indices is expressed as percentage change, rather than a change in index points, because index point changes are affected by the level of the index in relation to its base period, whereas percentage changes are not.

The example below illustrates the computation of a percentage change:

Percentage change calculation  
Current index  105.6
Less previous index  102.1
Equals in index points   3.5
Divided by the previous index   102.1
Equals   0.0343
Results multiplied by 100   0.0343 x 100
Equals percentage change   3.4

Alternatively, users may calculate a percentage change by dividing the current index by the previous index, multiplying by 100 and then subtracting 100.

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