Factory gate prices rose by 0.4 per cent in January, lifted by meat products, electronics and pharmaceutical products and pharmaceuticals.

The annual figures revealed prices were still lower in the year to the end of January, with a decline of 1.5 per cent over the 12-month period. However, the decline moderated somewhat from December, when factory gate prices fell by 2.2 per cent compared with a year earlier.

Rises in the monthly prices for meat products and electronics were partially offset by declines in fish and dairy products. Year on year, the main influencers were an increase of 10.6 per cent in dairy products, and declines in bread and confectionary of 5.5 per cent and basic pharmaceutical products of 4.6 per cent.

The index for export sales showed a rise of 0.4 per cent in the month and a decrease of 2.1 per cent over the year, a fluctuation that could be attributed to changes in exchange rates. The index for home sales remained unchanged in the month, and rose by 1.8 per cent in the year.