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CSO publication, 28, 11am
Table 1 presents the manufacturing industries output price index values for each month, quarter, and year since the new rebased series began in January 2021. It presents these index values separately for Home (Domestic) Sales and for Export Sales as well as a Total for all manufacturing industries. For all three, the percentage change of the index from the preceding period is presented along with the annual percentage changes for all periods.
Producer price indices are presented in Table 2 for major industrial sectors defined in terms of enterprises and classified on the basis of the statistical classification of economic activities within the European Community (NACE Rev.2). Note that this is a change to the previous version of the series, where local units1 were used rather than enterprises.
The three-digit NACE sectoral weights used in Table 2 in the current series are based on gross output figures as reported in the 2021 Census of Industrial Production.
Price indices are published for most two-digit NACE groupings with additional breakdown provided for various food products. At the three-digit NACE level these sectoral indices approximate closely to price indices for the commodities characteristic of these sectors since the compilations are based on enterprises for price reporting and weighting purposes. If, for example, a company is classified to a NACE group for the manufacturing of textiles and a substantial part of the company output is also cardboard boxes then prices for those items are also collected and used in the compilation of the index for textiles.
As stated in the Index Calculation section above, it is possible to derive indices at higher levels from combinations of two- and three-digit NACE sector indices. In this way overall producer price indices are derived and published in Table 2 for:
(i) Total transportable goods industries (NACE Sectors 05-33 i.e. Manufacturing industries plus Mining and Quarrying)
(ii) Food, drink and tobacco (2-digit NACE Sectors 10,11 and 12)
(iii) Manufacturing industries excluding food (NACE Sectors 11-33)
(vi) Manufacturing industries excluding food, drink and tobacco (NACE Sectors 13-33)
(v) Manufacturing industries (home sales) (NACE Sectors 10-33)
(vi) Manufacturing industries (export sales) (NACE Sectors 10-33)
(vii) Total manufacturing industries (NACE Sectors 10-33)
Industrial producer prices relate to the output of industrial enterprises, including both home sales and exports. Domestic and export sales are separately distinguished in the monthly price inquiry to ensure that quotations are obtained for comparable products and transactions.
Some industrial sectors are still excluded (see Appendix 2) from this series, either due to lack of coverage or due to the small size of some sectors. A number of two-digit NACE groupings indices which are used in the calculation of the overall index are not published individually as publication may breach the confidentiality of a return. These two-digit groups are also listed in Appendix 2.
Price indices are presented in Table 3 for all building and construction materials combined and 11 separate categories of materials. Home produced and imported commodities are covered. The weightings are based on a dedicated survey of all trades undertaken by the CSO in 1998. This survey requested a breakdown of materials used by building, civil engineering and other trade firms. All firms with more than 20 employees and a sample of those with less than 20 employees were surveyed.
Table 4 presents price indices for capital goods. As in the former series a distinction is made between:
(i) Transportable capital goods
(ii) Building and Construction.
Indices for Transportable capital goods are separately presented for three sectors, namely Agriculture, Industry and all other activity. For the industrial sector, separate indices are also provided for private vehicles and commercial vehicles. Equivalent indices for other specific capital goods items cannot be satisfactorily compiled since they have a high import content, and it is generally not possible to price a sufficient number of identical products on a regular basis because of the infrequent and unique nature of most transactions.
The Building and Construction capital index is derived by combining a special hourly wage rate index for employees in the building and construction sector with the price index for Building and Construction Materials in Table 3.
Table 5 presents wholesale price indices for electricity and petroleum fuels purchased by manufacturing industry. Wholesale prices for the bulk supply of different categories of petroleum fuels are obtained from the major fuel suppliers.
Since the introduction of the Single Electricity Market, the wholesale price of electricity is comprised of a number of components:
The Day Ahead Single Market Price is used to calculate the CSO wholesale electricity index.
The overall index is compiled using weights based on the costs of different types of fuels purchased by industrial establishments.
1 A local unit is defined as an enterprise or part thereof situated in a geographically identified place. The different geographical locations in which an enterprise conducts industrial activities were previously treated as separate local units.