New figures from the Central Statistics Office show that wholesale electricity prices dropped by 6.4% in March when compared with February, but are 52% higher than March of last year.
Wholesale electricity prices fallen by 66% when compared with the peak that occurred in August 2022, the CSO added.
Today’s figures also show that producer prices for food products increased by 6.9% in the 12 months to March.
Some of the most notable changes in producer prices for food products included a 22% jump in dairy products, as well as a 5.7% increase in the wholesale price of meat and meat products, while the wholesale price of vegetables and animal oils and fats dropped by 16.2%.
The CSO said that overall wholesale price inflation showed a decrease in March with a 2.4% decline in the overall Producer Price Index for manufacturing industries in the month.
The price index for export sales was down by 2.7% from February, while the index for home sales was down by 0.1% in the month.
Producer prices for products sold on the domestic market were 1.3% higher in March compared with March of last year.
The CSO noted that in the 12 months to March, export producer prices fell by 2.2%, while overall producer prices were down by 1.9%.
