Irish wholesale prices fall in April but energy, food still high? CSO

Irish wholesale prices fell in April, driven by easing manufacturing costs and a drop in electricity prices, data from the Central Statistics Office showed Thursday.

The wholesale price index for manufacturing industries declined 1.4% in April from the previous month, slowed from the contraction of 2.4% in March. On-year, the decline accelerated to 3.6% in April from 1.9% in March.

Electricity prices fell by 15.7% from March but were still 25.6% higher than in April 2024. Prices have now dropped more than 71% from their August 2022 peak.

The index for exported goods dropped 1.6% on the month and was 4.0% lower than a year earlier. In contrast, domestic manufacturing prices rose 0.9% annually.

Energy products overall saw a 12% monthly decline but remained 14% higher than a year ago.

Food producer prices posted an annual increase of 5.1%, driven by a 22% surge in dairy and a 7.3% rise in meat prices. Vegetable and animal oils and fats saw a sharp annual decline of 16%.

Construction material prices edged up 0.2% in April and were 1.0% higher than a year before. Cement, sand, and plaster posted notable gains, while prices for reinforcing metal dropped 7.4%.

The combined Building & Construction Index, which includes materials and wages, was unchanged on the month but up 2.0% from April 2024.

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