Wholesale Prices Show Mixed Signals in September: Prices Up, Inflation Down
Irish wholesale electricity prices saw an increase in September, yet remain significantly lower than peak levels seen last year, according to new figures released by the Central Statistics Office (CSO).
Electricity prices jumped 12.2% compared to August, and were 1% higher than September 2022. However, compared to the peak observed in August 2022, wholesale electricity prices have plummeted by 70.9%. This indicates a potential easing of energy pressures.
Overall energy fuel prices experienced a decrease of 1.1% in September, reflecting a broader trend of easing energy costs. Since September 2022, energy fuel prices have dropped by 11.1%.
**Food Prices Ease While Certain Sectors See Increases**
Wholesale food prices saw a notable decline, falling by 1.8% over the 12 months leading up to September. However, specific categories saw contrasting trends. Prices for fish and fish products increased by 7.5%, while grain milling, starches, and animal feeds experienced a decrease of 4.4%.
Manufacturing industry producer prices saw an increase of 0.2% in September, signaling a slight uptick in inflationary pressures. Meanwhile, producer prices for goods sold domestically rose 1.8% compared to September 2022.
Looking at export-focused sectors, producer prices for exported goods fell by 1.7% over the year. Overall producer prices, encompassing both domestic and export markets, dipped by 1.6% in the same period.
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