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E-mail: wpi@cso.ie Tony Kelleher (+353) 21 453 5096 Chris Moriarty (+353) 21 453 5447 Susan Kelleher (+353) 21 453 5779
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CSO statistical release, 24 April 2014, 11am

Wholesale Price Index

March 2014

 Price index (Year ‘10=100)% monthly change% annual change
Jan 2014100.10.4%-1.5%
Feb 201499.9-0.2%-1.7%
Mar 201499.3-0.6%-3.1%

Annual Manufacturing Prices decrease by 3.1% in March

Figure 1 - Manufacturing Industries Output Price Index

Monthly factory gate prices decreased by 0.6% in March 2014. This compares to an increase of 0.9% recorded for March of last year. As a result, the annual percentage change showed a decrease of 3.1% in March 2014, compared with a decrease of 1.7% in the year to February 2014.  See graph across and table 1.

In the month, the price index for export sales decreased by 0.8%, while the index for home sales decreased by 0.2%.  In the year there was a decrease of 3.6% in the price index for export sales (this can be influenced by currency fluctuations) and a decrease of 1.1% 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 Dairy products (+0.5%), Other non-metallic mineral products (+0.3%) and Textiles (+0.2%), while there were decreases in Other food products including bread and confectionery (-1.0%), Basic pharmaceutical products and pharmaceutical preparations (-0.7%) and Computer, electronic and optical products (-0.7%). See tables 2 and 2A.

Contributing to the annual change were increases in Dairy products (+12.6%), Wood and wood products (+10.0%) and Other manufacturing (+1.3%), while there were decreases in Other food products including bread and confectionery (-7.3%),  Basic pharmaceutical products and pharmaceutical preparations (-6.4%) and Computer, electronic and optical products (-0.5%).  See tables 2 and 2A.

The yearly price index for Mining and quarrying decreased by 3.6% while the monthly index increased by 0.2%. See table 2.

  • Building and Construction All materials prices increased by 1.0% in the year since March 2013.  The most notable yearly changes were increases in Sand and gravel (+42.1%), Hardwood (+14.5%) and Concrete blocks and bricks (+5.6%) while there were decreases in Fabricated metal (-5.0%), Reinforcing metal (-2.6%) and Copper pipes and fittings (-1.7%). Building and Construction All materials prices decreased by 0.1% in the month.  See table 3.
  • Year on year, the price of Capital goods increased by 0.5%, while the monthly price index did not change.  See table 4.
  • The price of Energy products decreased by 17.2% in the year since March 2013, while Petroleum fuels decreased by 3.2%.  In March 2014, the monthly price index for Energy products increased by 1.4%, while Petroleum fuels decreased by 1.3%. See table 5.
Table 1 Manufacturing Industries Output Price Indices (excluding VAT)  
         Base: Year 2010 as 100
  Manufacturing Industries Output Price Index Manufacturing Industries Output Price Index (Home Sales) Manufacturing Industries Output Price Index (Export Sales)
  
PeriodPrice 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
           
2011Quarter 1100.41.40.4 104.02.7 99.81.1
 Quarter 2100.3-0.1-0.4 107.43.3 99.2-0.6
 Quarter 3100.2-0.10.0 106.9-0.5 99.20.0
 Quarter 4101.21.02.2 106.6-0.3 100.31.1
           
2012Quarter 1102.41.22.0 108.72.0 101.51.2
 Quarter 2101.8-0.61.5 110.01.2 100.5-1.0
 Quarter 3103.01.22.8 108.8-1.1 102.11.6
 Quarter 4102.2-0.81.0 109.50.6 101.0-1.1
           
2013Quarter 1101.9-0.3-0.5 109.90.4 100.6-0.4
 Quarter 2102.50.60.7 110.60.6 101.30.7
 Quarter 3102.4-0.1-0.6 111.50.8 101.0-0.3
 Quarter 4101.1-1.3-1.1 110.8-0.6 99.6-1.4
           
2014Quarter 199.8-1.3-2.1 110.4-0.4 98.1-1.5
           
2012January102.81.42.3 108.31.2 102.01.5
 February102.2-0.61.8 108.70.4 101.2-0.8
 March102.30.12.0 109.00.3 101.20.0
 April101.3-1.01.5 110.31.2 99.8-1.4
 May101.90.60.9 110.50.2 100.50.7
 June102.20.32.0 109.1-1.3 101.10.6
 July103.51.33.4 107.7-1.3 102.81.7
 August103.90.44.2 109.31.5 103.10.3
 September101.7-2.10.8 109.30.0 100.5-2.5
 October101.90.21.3 109.1-0.2 100.80.3
 November102.70.81.1 110.00.8 101.60.8
 December101.9-0.80.5 109.3-0.6 100.7-0.9
           
2013January101.6-0.3-1.2 108.6-0.6 100.5-0.2
 February101.60.0-0.6 109.60.9 100.3-0.2
 March102.50.90.2111.41.6101.10.8
 April102.60.11.3110.9-0.4101.30.2
 May103.10.51.2110.4-0.5101.90.6
 June101.9-1.2-0.3 110.50.1 100.6-1.3
 July102.60.7-0.9 110.70.2 101.30.7
 August102.4-0.2-1.4 112.21.4 100.9-0.4
 September102.2-0.20.5 111.5-0.6 100.7-0.2
October101.8-0.4-0.1110.9-0.5100.3-0.4
November101.80.0-0.9110.8-0.1100.40.1
 December99.7-2.1-2.2110.6-0.298.0-2.4
           
2014January100.10.4-1.5110.60.098.40.4
February99.9-0.2-1.7110.4-0.298.3-0.1
 March99.3-0.6-3.1 110.2-0.2 97.5-0.8
Table 2 Industrial Producer Price Indices (excluding VAT)       
      Base Year 2010 as 100
Industrial Sector         Index Monthly % Change Annual % Change
NACE code1  
Feb 2014Mar 2014 Jan 2014Feb 2014Mar 2014 Mar 2014
   
Food Products10109.1108.3 0.1-0.1-0.7 -1.7
       Meat and meat products101116.5115.4 1.4-0.9-0.9 0.0
       Fish and fish products102116.3112.9 -4.2-1.0-2.9 -2.8
       Fruit and vegetables103103.1102.8 0.30.2-0.3 0.5
       Vegetables and animal oils and fats104110.6110.6 0.0-17.00.0 -21.3
       Dairy products105125.8126.4 -0.31.50.5 12.6
       Grain milling, starches and animal feeds106,109121.1120.7 0.10.2-0.3 -2.7
       Bakery and farinaceous products107100.5100.3 -0.10.1-0.2 0.3
       Other food products10899.398.3 -0.2-0.3-1.0 -7.3
Beverages11105.4103.1 -0.20.1-2.2 2.2
Textiles13102.5102.7 0.10.50.2 0.9
Wearing apparel14104.8104.6 0.90.1-0.2 1.1
Leather and leather products (incl. footwear); dressing and dyeing of fur15105.9105.9 0.00.00.0 0.1
Wood and wood products16111.6111.2 0.70.2-0.4 10.0
Pulp, paper and paper products17101.2100.8 0.20.2-0.4 0.4
Printing and reproduction of recorded media18102.5101.3 1.00.8-1.2 1.1
Chemicals and chemical products20101.6101.6 1.7-0.10.0 0.1
Basic pharmaceutical products and pharmaceutical preparations2188.888.2 0.2-0.3-0.7 -6.4
Rubber and plastic products22103.3103.1 0.1-0.3-0.2 -0.9
Other non-metallic mineral products23105.6105.9 0.4-0.20.3 0.9
Basic metals24107.9106.7 0.70.7-1.1 -3.1
Fabricated metal products, except machinery and equipment25103.9103.4 0.20.2-0.5 0.7
Computer, electronic and optical products26108.3107.5 0.5-0.4-0.7 -0.5
Electrical equipment27105.2104.7 0.30.3-0.5 0.6
Machinery and Equipment n.e.c.28104.0103.6 0.40.0-0.4 -0.2
Motor vehicles, trailers and semi-trailers2992.592.3 -1.7-0.1-0.2 -4.6
Furniture 31100.6100.3 0.30.9-0.3 1.6
Other Manufacturing32104.6104.6 0.60.00.0 1.3
Mining and quarrying05-09121.8122.1 3.5-0.90.2 -3.6
  
Total transportable goods industries 100.199.5 0.4-0.2-0.6 -3.1
  
Food products, Beverages and Tobacco Products10-12108.5107.5 0.10.0-0.9 -1.6
Manufacturing industries excluding Food Products  97.797.0 0.4-0.2-0.7 -3.5
Manufacturing Industries excluding Food Products, Beverages and Tobacco Products 97.496.8 0.4-0.2-0.6 -3.7
Intermediate goods industries (except energy) 108.4108.3 0.50.3-0.1 0.3
Capital goods industries 105.0104.4 0.5-0.3-0.6 -0.1
Durable consumer goods industries 103.1102.8 0.40.4-0.3 1.3
Non-durable consumer goods industries 95.694.9 0.3-0.2-0.7 -4.2
          
Manufacturing industries (home sales)2 110.4110.2 0.0-0.2-0.2 -1.1
Manufacturing industries (export sales)2 98.397.5 0.4-0.1-0.8 -3.6
Total manufacturing industries2 99.999.3 0.4-0.2-0.6 -3.1
          
1 Nace Rev. 2 Statistical classification of economic activities in the European Community.    
2 Excludes Mining and quarrying.         
Table 2A Contribution to changes in the Manufacturing Output Price Index, March 2014 (Table 2)
        
Industrial sectorNACE code 1Contribution to overall % change2
   One monthTwelve months
Food Products10   -0.17 -0.39
       Meat and meat products101   -0.05 0.00
       Fish and fish products102   -0.01 -0.01
       Fruit and vegetables103   0.00 0.00
       Vegetables and animal oils and fats104   0.00 -0.01
       Dairy products105   0.02 0.48
       Grain milling, starches and animal feeds106,109   0.00 -0.04
       Bakery and farinaceous products107   0.00 0.00
       Other food products108   -0.11 -0.82
Beverages11   -0.06 0.06
Tobacco Products12   0.00 0.01
Textiles13   0.00 0.00
Wearing apparel14   0.00 0.00
Leather and leather products (incl. footwear); dressing and dyeing of fur15   0.00 0.00
Wood and wood products16   0.00 0.08
Pulp, paper and paper products17   0.00 0.00
Printing and reproduction of recorded media18   -0.02 0.02
Coke and refined petroleum products19   -0.05 -0.51
Chemicals and chemical products20   0.00 0.00
Basic pharmaceutical products and pharmaceutical preparations21   -0.22 -2.37
Rubber and plastic products22   0.00 -0.01
Other non-metallic mineral products23   0.00 0.01
Basic metals24   -0.01 -0.02
Fabricated metal products, except Machinery and equipment25   -0.01 0.01
Computer, electronic and optical products26   -0.32 -0.28
Electrical equipment27   0.00 0.00
Machinery and Equipment n.e.c.28   -0.01 0.00
Motor vehicles, trailers and semi-trailers29   0.00 -0.03
Other transport equipment30   0.00 -0.01
Furniture 31   0.00 0.01
Other Manufacturing32   0.00 0.11
Repair and Installation of machinery and equipment33   0.00 0.00
Mining and quarrying05-09   0.00 -0.05
        
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
   
Feb 2014Mar 2014 Jan 2014Feb 2014Mar 2014  Mar 2014
   
Stone, sand and gravel117.8114.6 0.36.2-2.7  4.9
       Stone115.4110.9 -0.94.6-3.9  -0.9
       Sand and gravel130.9134.4 7.214.52.7  42.1
Cement100.6100.6 0.00.00.0  0.6
Ready mixed mortar and concrete103.6104.1 0.1-0.10.5  1.3
Concrete blocks and bricks110.0110.8 1.50.90.7  5.6
Other concrete products99.198.9 1.10.0-0.2  0.1
       Precast concrete92.492.0 0.40.0-0.4  -0.1
       Other concrete products (Excluding precast concrete)100.2100.2 1.10.00.0  -0.2
Structural steel and reinforcing metal103.4103.2 -1.3-0.6-0.2  -3.7
       Structural steel99.499.2 -2.0-0.8-0.2  -4.5
              Fabricated metal99.399.2 -2.2-0.9-0.1  -5.0
              Other Structural steel99.899.8 0.00.00.0  -0.5
       Reinforcing metal110.0109.6 -0.4-0.2-0.4  -2.6
       Other steel products101.8101.8 0.00.50.0  0.0
Rough timber (including plain sawn)107.0108.4 0.00.01.3  1.9
       Hardwood113.2129.6 0.00.014.5  14.5
       Other106.4106.4 0.00.00.0  0.7
Other timber103.5103.5 0.00.00.0  0.0
       Windows and doors100.3100.3 0.10.00.0  0.1
       Other107.5107.5 0.00.00.0  0.0
Bituminous macadam, asphalt and bituminous emulsions136.7135.6 -2.7-0.1-0.8  -0.4
       Bituminous macadam and asphalt137.8136.5 -2.8-0.1-0.9  -0.4
       Bituminous emulsions116.0117.2 -0.3-1.21.0  -0.6
Electrical fittings103.7103.7 0.10.60.0  2.4
       Lighting equipment104.2104.2 0.02.40.0  2.4
       Protection & communication equipment 95.595.5 0.40.00.0  1.1
All other materials108.7108.7 0.00.60.0  0.4
       Plumbing materials incl. sanitary ware99.599.5 0.00.00.0  0.0
       HVAC (heating & ventilation equipment) 99.599.5 0.00.00.0  -1.3
       Insulating materials118.4118.4 -0.20.00.0  3.5
       Pipes and fittings117.5117.4 0.1-0.2-0.1  -1.2
              PVC102.3102.3 0.00.30.0  0.4
              Copper123.4123.2 0.2-0.3-0.2  -1.7
       Plaster101.5101.7 -1.11.00.2  2.0
       Paints, oils and varnishes104.9104.9 0.00.00.0  -0.6
       Glass120.6120.6 0.02.60.0  2.6
       All other metal fittings99.999.8 0.00.2-0.1  0.5
       All other products107.3107.3 0.01.10.0  0.5
All materials106.8106.7 0.10.7-0.1  1.0
Table 4 Capital Goods Price Indices (excluding VAT)       
        Base: Year 2010 as 100
Capital goodsIndex Monthly % Change Annual % Change
Feb 2014Mar 2014 Jan 2014Feb 2014Mar 2014  Mar 2014 
    
Transportable capital for use in          
              Agriculture107.0107.0 0.10.30.0  1.3 
              Industry101.0100.9 0.20.0-0.1  -0.2 
        of which:          
              Private vehicles1101.1101.1 0.00.00.0  -0.1 
              Commercial vehicles99.899.8 0.60.00.0  1.2 
Agriculture and industry102.0101.9 0.10.1-0.1  0.1 
Other sectors101.1101.0 0.20.0-0.1  0.2 
Total transportable capital101.5101.5 0.20.00.0  0.1 
Building and construction99.599.4 0.00.4-0.1  0.5 
(i.e. materials and wages)          
           
All capital goods99.799.7 0.00.30.0  0.5 
           
1 Private vehicles are inclusive of VAT which is non-deductible for industry and agriculture. 
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
Feb 2014Mar 2014 Jan 2014Feb 2014Mar 2014  Mar 2014 
    
Petrol110.6109.9 0.51.0-0.6  -2.6 
Autodiesel112.1110.3 -0.60.7-1.6  -3.8 
Gas oil (other than autodiesel)117.3114.9 -0.60.8-2.0  -3.8 
Fuel oil115.3114.0 -1.12.0-1.1  -3.0 
Electricity114.8118.1 7.8-12.22.9  -22.5 
           
Petroleum fuels1114.7113.2 -0.81.5-1.3  -3.2 
Energy products114.8116.4 5.1-8.01.4  -17.2 
           
1 Energy products excluding electricity.        
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

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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