Factory gate prices fell in February as prices of dairy products, meat and pharmaceuticals decreased.

In the year to the end of February, prices were down 0.3 per cent, reversing the 1.3 per cent rise recorded in January.

Among the main movers were prices for medical and dental supplies, which increased 7.5 per cent, with beverages up 1.7 per cent. Dairy products fell 5 per cent over the year, with prices for meat and meat products down 2 per cent and pharmaceuticals 0.7 per cent lower.

On a monthly basis, factory gate prices fell 0.8 per cent, dragged down by a 2 per cent decline in pharmaceuticals and a 1.5 per cent decrease in prices for computer products. That was partly offset by a rise in medical supplies of 7.5 per cent.

The price index for export sales fell 0.7 per cent in the month, with the home sales index down 1.5 per cent. The latter was down 3.1 per cent over the year, with export sales rising 0.1 per cent year on year. The export sales index can be influenced by currency exchange fluctuations