Ireland wholesale prices rise in January as electricity surges

Ireland’s wholesale prices increased in January, with electricity costs rising sharply on both a monthly and annual basis, according to data from the Central Statistics Office on Friday.

The wholesale price index edged up 0.1% in January from December, with prices 2.1% higher compared to a year earlier.

Wholesale electricity prices surged over 22% in January from the prior month and were about 68% higher than in January 2024. Despite the annual increase, prices remained 57% below their peak in August 2022.

Producer prices for manufactured goods sold domestically rose 1.4% year-on-year in January, while export producer prices increased 2.1%. Overall, manufacturing producer prices were 2.1% higher than a year earlier, slowed from an increase of 3.3% in December.

Food product prices rose 7.6% on an annual basis, with dairy products seeing the largest gain at around 19%. Other notable increases were recorded in meat & meat products (+4.1%) and other food products (+8.6%), while grain milling, starches & animal feeds declined 2.9%.

Wholesale construction product prices rose 1.3% year-on-year, with increases in concrete blocks & bricks (+8.0%) and cement (+5.7%), while reinforcing metal fell 8.8%.

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