Irish wholesale inflation declines in May, electricity prices surge

(Alliance News) - Wholesale prices in Ireland decreased in May but rose slightly on an annual basis, the Irish Central Statistics Office announced on Friday.

The wholesale price index reached 87.0 in May, down 2.8% from 89.5 in April. However, this marked an increase of 0.9% from May last year.

The Building & Construction index increased 0.1% in May from April, and rose 0.7% annually. Wholesale prices for construction products, meanwhile, rose 0.3% on-month but decreased 0.3% on-year.

Wholesale electricity prices rose 22% month-on-month and by 2.4% annually.

Domestic producer prices for manufactured goods were on average 1.4% lower in May 2024 "when compared with a year earlier", the ICSO said, while producer prices for exported goods rose 1.1%.

Producer prices for food products, meanwhile, fell 6.5% over 12 months. The most notable changes included prices for dairy products, which jumped 15%, and those for "Other Food Products", which fell 8.5%.

By Emma Curzon, Alliance News reporter

Comments and questions to [e-mail]

Copyright 2024 Alliance News Ltd. All Rights Reserved.