Factory gate prices in Ireland increased by 0.9% last month, a 0.2% rise on the same period in 2007.

Building and construction materials have also experienced a sharp 4.3% hike in the last year, according to the Central Statistics Office.

This culminated in a 0.5% rise in material costs in June alone.

The CSO said its total results for the entire Irish market presented an annual fall of 2.8% in June.

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The price of food products increased by 7% in June; with meat products representing a 1.4% cost rise.

Watches, clocks and optical goods all rose in price by 3.6%.

Diary products experienced a 2.5% decrease in factory gate prices.

The energy market was dealt the largest blow from price increases.

Since last year energy products’ costs have risen by 5.4%.

The biggest impact was felt by petroleum products, with a 36.6% increase in the last year.

In June alone prices rose by 4.9% for petroleum, while general energy product prices grew by 1.6%.

(PR)