Ireland Wholesale Price Inflation Eases To 0.9%

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Ireland's wholesale price inflation moderated in May to the lowest level in seven months, data from the Central Statistics Office showed on Friday.

Output prices in the manufacturing industry rose 0.9 percent year-over-year in May, much slower than April's 17-month high of 3.8 percent. The latest rate of increase was slowest since the current sequence of increase began in November last year.

Factory gate prices for chemicals and chemical products alone grew by 23.4 percent annually in May, and those for beverages rose by 7.2 percent. Meanwhile, wholesale prices for food products slid by 6.5 percent.

Prices for domestic sales decreased 1.4 percent in May from a year ago, while those for the export market rose by 1.1 percent.

Data also showed that wholesale electricity prices plunged 24.8 percent annually in May, and those for construction products dropped by 0.3 percent.

On a monthly basis, wholesale prices declined 2.8 percent versus a 0.8 percent rebound in April.

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