Wholesale electricity prices down over 40% in April

May 24, 2023

Prices paid for raw materials by manufacturers fell in April for the first time since November 2021, new Central Statistics Office figures show today.

The Wholesale Price Index fell by 1% compared to March and by 0.7% compared to April 2022.

Producer prices for exported goods fell by 1% in the month and are down 1.2% on an annual basis. Producer prices for goods made for the domestic market fell by 0.2% in the month and are still 7.8% higher than in April last year.

The wholesale price of electricity continues to fall. It fell by 13.5% in April compared to March and is down 42.5% compared to April last year.

The price of energy products, excluding electricity, was down 11.4% on an annual basis.

The price of food products fell for the second consecutive month, by 2.2% in April. But on an annual basis, they are up 0.8%.

Dairy products fell by 2.4% in the month but are still 6.8% higher than a year ago. Animal feed fell 1.3% but is still up 8.7% compared to last year.

While the price of fruit and vegetables did not budge in April, they were still 17.8% more expensive than a year ago.

Meanwhile, the CSO said the Building and Construction index, which includes wages paid to construction workers, rose by 0.8% in April and is up 7.7% on an annual basis.

The price of some building materials continued to rise both on a monthly and annual basis.

The price of plaster is up 35.6%, ready mix concrete rose by 27.4% and concrete blocks increased by 19.1% – all on annual basis. The price of some steel products did fall, however.

Overall, the price of construction materials rose by 1.5% in April while on an annual basis, they are up 11.7%.

Article Source: Wholesale electricity prices down over 40% in April – Robert Shortt – RTE

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