New data from the Central Statistics Office (CSO) reveals a significant increase in wholesale electricity prices, which rose 22.3% in January compared to the previous month. Prices were also 67.7% higher than in January 2024, reflecting a sharp annual increase.
Despite this surge, electricity prices remain 56.8% lower than their peak levels recorded in August 2022.
The CSO also reported that:
Despite this surge, electricity prices remain 56.8% lower than their peak levels recorded in August 2022.
Rising Producer Prices in the Food Sector
Producer prices for food products also saw a notable increase, rising 7.6% year-on-year. Among the most affected categories:- Dairy products experienced a 18.6% price jump.
- Other food products saw an 8.6% increase.
- Meat and meat products rose by 4.1%.
- In contrast, grain milling, starches, and animal feeds saw a 2.9% decline.
Inflation in Manufacturing and Domestic Markets
The overall Producer Price Index for manufacturing industries increased by 0.1% in January, indicating a slight rise in wholesale price inflation.The CSO also reported that:
- The export sales price index increased by 0.1% since December 2024.
- The home sales price index climbed 0.5% in the same period.
- Producer prices for domestically sold products were 1.4% higher in January 2025 compared to January 2024.
- Over the 12-month period, export producer prices and overall producer prices both increased by 2.1%.
