Annual wholesale electricity prices down over 35% in June

July 25, 2023

New figures from the Central Statistics Office show the price of wholesale electricity in June rose by 11.3% from May, but fell by 35.6% compared to June of last year.

The CSO said that the overall Energy Products Index increased by 9% since May of this year but slowed by 33.5% when compared with June last year.

Overall, today’s figures show that wholesale price inflation showed a small increase in June with a rise of 0.5% to the overall producer price index for the manufacturing industries in the month.

The price index for export sales also rose by 0.5% since May, while the index for home sales fell by 0.7% in the month, the CSO said.

Producer prices for products sold on the domestic market were 3.9% higher in June of this year compared to the same time last year, with export producer prices falling by 0.8% and overall producer prices falling by 0.6% in the year, it added.

Meanwhile, producer prices in the Food Products index dropped by 1.8% in the month to June, while they were 3.4% lower than in June 2022.

Prices for some food products fell in the month including Other Food Products which fell by 3.5%, while prices for Dairy Products were down 2.1%.

Prices for these products were also lower on an annual basis compared with June last year, with Other Food Products seeing a reduction of 4% in the year and Dairy Products falling by 13.1%.

But several other food categories were still significantly higher in June of this year compared with the same month in 2022, including Fruit & Vegetables, with their prices jumping by 16.3%,.

Meanwhile, Fish & Fish Products were up 13.2% while Baking Products increased by 3.8%.

Article Source: Annual wholesale electricity prices down over 35% in June – RTE

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