Irish wholesale prices remain stable in August, decrease on-year

Irish wholesale prices held steady in August, as electricity costs and energy product prices eased, data from the Central Statistics Office showed on Monday.

The wholesale price index for manufacturing industries was unchanged from July, but declined 3.0% from a year ago.

Electricity prices were 3.3% lower than in July and 4.0% lower than in August last year.

Overall prices for energy products overall posted a 1.7% decline from the previous month, and were down 8.2% on-year.

The index for exported goods dropped 0.1% on-month and was 3.4% lower than a year earlier. In contrast, domestic manufacturing prices rose 0.1% in August and 1.2% annually.

Food producer prices were flat in August, but 4.4% higher on an annual basis, with an 11.1% uptick in dairy prices, a 7.3% rise in meat prices and 3.5% higher fish prices. Vegetable and animal oils and fats were 16.2% lower than the prior year.

Beverage prices fell 0.4% during the month, and were 3.5% lower annually.

Notably, prices for Chemicals & Chemical Products were 30.8% higher on-year, despite no change from July to August.

Construction material prices also remained stable during the month, but advanced by 0.6% annually.

The combined Building & Construction Index, which includes materials and wages, rose by 1.5% on a monthly basis and 1.8% annually.

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