The manufacturing industries output price index decreased by 2.1 percent in the year to October 2018, following a 2.6 percent fall in the prior month. It is the eighth consecutive decline in wholesale prices, as cost went down mostly for: furniture (-11 percent vs -10.3 percent in September); food products (-7.3 percent vs -8.9 percent), particularly grain milling, starches and animal feeds (-26.5 percent vs -26.4 percent) and rubber & plastics (-4.3 percent vs -4.7 percent). Monthly factory gate prices slumped 6.4 percent, the most since October 2017, after a 2.3 percent decrease in September. Producer Prices Change in Ireland averaged 3.24 percent from 1976 until 2018, reaching an all time high of 22.13 percent in January of 1977 and a record low of -10.61 percent in June of 2003.
Producer Prices Change in Ireland is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Ireland to stand at 1.50 in 12 months time. In the long-term, the Ireland Wholesale Prices Change is projected to trend around 1.70 percent in 2020, according to our econometric models.