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Financial News: Ireland Wholesale Price Inflation Eases To 2.5%, Lowest

Ireland Wholesale Price Inflation Eases To 2.5%, Lowest In 13 Months

01/20/2023 - 10:15:00 (RTTNews)

(RTTNews) - Ireland's wholesale price inflation eased for the second straight month in December to the lowest level in just over a year, data from the Central Statistics Office showed on Friday.

Output prices in the manufacturing industries rose 2.5 percent year-over-year in December, slower than the 3.8 percent rise in November.

Further, this was the slowest rate of inflation since November 2021, when prices had risen only 0.2 percent.

Factory gate prices for food products alone grew 10.4 percent in December compared to last year, largely led by a 39.5 percent surge in prices for dairy products, but the rate of growth slowed from a 46.0 percent growth in November.

Prices for wood and wood products registered a sharp yearly growth of 32.5 percent.

Prices for domestic sales climbed 8.9 percent in December from a year ago, and those for the export market were 2.3 percent more expensive.

Data also showed that wholesale electricity prices jumped 93.2 percent annually in December, and those for construction products grew 16.2 percent.

On a monthly basis, wholesale prices dropped 1.3 percent in December, following a 3.96 percent fall in the previous month.

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