New figures from the Central Statistics Office show that wholesale electricity prices dropped by 15.9% in February from January, but were 66.5% higher than February of last year.
The CSO noted that wholesale electricity prices have fallen by 63.7% when compared with the peak that occurred in August 2022.
The overall Energy Products Index was down by 12.7% last month since January but was 42.2% higher when compared with February last year, the CSO added.
Today’s CSO figures also show that producer prices for food products increased by 7% in the 12 months to February.
Some of the most notable changes in producer prices for food products were an 18.6% increase in dairy products, and a 6.6% rise in meat and meat products. Other Food Products rose by 6.3%, while vegetables and animal oils & fats were down 16.2%.
The CSO also said that wholesale price inflation showed a decrease in February with a 0.9% decline in the overall Producer Price Index for manufacturing industries in the month.
Producer prices for products sold on the domestic market were 1% higher in February on the same time last year, it noted.
In the 12 months to February, export producer prices fell by 0.5% while overall producer prices were also down by 0.5%.
