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Wholesale electricity prices up by 86.3% annually

Domestic producer prices for manufactured goods were on average 9.5% higher in July 2022 compared with a year earlier, while producer prices for exported goods increased by 6.0%, according to the latest CSO data.

Producer prices for food products rose by 10.8% in the year to July 2022, while the food products, beverages and tobacco index saw an increase of 10.3%.

Some of the most notable changes in producer prices for food products in the year were:

• Dairy products (+52.9%),
• Fish and fish products (+19.7%),
• Grain milling, starches and animal feeds (+14.2%),
• Meat and meat products (+13.2%).

The most notable changes in other producer prices in the year were:

• Wood and wood products (+36.6%),
• Basic metals (+27.9%),
• Glass, ceramics, cement, concrete and stone (+22.3%),
• Mining and quarrying (+16.4%).

Wholesale prices for construction products rose by 3.8% in the month and 20.6% in the year.

Increases

Notable annual increases in construction products included: 

• Other timber (including treated wooden products): 109.6%,
• Structural steel and reinforcing metal: 46.7%,
• Other concrete products, precast concrete: 33.5%,
• Other timber, windows and doors: 29.7%,
• All other materials, pipes and fittings, PVC: 29.2%,
• All other materials, pipes and fittings, copper: 26.8%.

Materials and wages in the sector increased by 2.2% in the month and 12.1% in the year.

Wholesale electricity prices rose by 86.3% annually and 47.0% since June 2022.

The overall energy products index followed these trends, going up by 37.0% since June 2022, and up 77.6% when compared to July 2021.

Prices statistician Jillian Delaney said: "Wholesale and producer prices continued to rise in most categories in July 2022.

“Producer prices in several food categories were significantly higher in July 2022 compared with the same month last year.”