Annual wholesale electricity prices up over 15% in July – CSO
The wholesale cost of electricity rose 3% in the month to July, new data from the Central Statistics Office shows.
It meant that prices were 15.3% higher than they were in July of last year.
However, prices are still 58.5% lower than they were in July of 2022, when they were still being severely influenced by a spike in energy costs arising from the invasion of Ukraine by Russia.
They are also 71.4% down on the peak recorded in August of that year.
Overall, wholesale prices in the month rose 0.2% and in the year to the end of July were 5.4% up.
The CSO said domestic producer prices for manufactured goods were on average 0.4% higher in July compared to a year earlier.
While prices of goods produced for export were up 5.6%.
Wholesale producer prices for food were 2.1% lower in July versus a year earlier.
Fish and fish products rose 7.8% over the year.
But dairy products were 9.2% lower on an annual basis, although they climbed 3.4% in the month.
Grain milling, starches and animal feeds fell 4.9%.
The construction sector, where there is significant focus at present due to the housing shortage, saw materials ruse by 0.1% in the month and 0.5% in the year since July of last year.
Sand and gravel and rough timber were both 8.1% more expensive on a year on year basis, while concrete block and bricks were 6.1% higher.
When wages are included with materials, wholesale prices in the construction were found to have risen 0.1% in the month and 1.1% in the year to July.
Article Source – Annual wholesale electricity prices up over 15% in July – CSO – RTE
