Wholesale electricity costs up almost 19% in past year
Electricity Prices 3% Than Peak The 62 August Wholesale Previous 2022 Still In Lower
The wholesale cost of electricity increased by nearly 19% during November compared to the same time last year as food producer prices also edged upwards, new data from the Central Statistics Office (CSO) shows.
The CSO’s latest wholesale price index for November shows that while electricity prices have risen in annual terms, they are still 62.3% lower than the previous peak in August 2022. Wholesale electricity prices have been on a steady increase since August this year.
Electricity prices increased by 18.2% when compared to October.
Producer prices for food also increased by 3% over the past year. Some of the most notable changes were seen in dairy products, up 9.8%, and bakery and farinaceous products such as pasta and rice, up 3.5%.
Producer prices for food products, beverages, and tobacco were up 2.5%.
Wholesale electricity prices rose by almost 19% in the year to November 2024https://t.co/MQHH53qN1V#CSOIreland #Ireland #Wholesaleprices #Prices #Business #BusinessStatistics #IrishBusiness pic.twitter.com/XRnfc1cHf2
— Central Statistics Office Ireland (@CSOIreland) December 23, 2024
Domestic producer prices for manufactured goods were on average 1.2% higher year-on-year, according to the CSO while producer prices for exported goods were up by 2.3%.
Overall, manufacturing producer prices were 2.1% higher in the year.
Wholesale prices for construction products decreased by 0.9% in the 12 months to the end of November. Sand and gravel costs increased by 8.9% while other structural steel costs increased by 7.9%.
Concrete blocks and bricks were also up 6.9% while cement costs were up 5.7%. However, there was a 10.1% drop in the price of reinforcing metal which mitigated some of the other price increases.