Financial News: Ireland Wholesale Price Inflation Eases To 2.0%

Ireland Wholesale Price Inflation Eases To 2.0%

04/22/2024 - 07:59:00 (RTTNews)

(RTTNews) - Ireland's wholesale price inflation moderated in March to the lowest level in three months, data from the Central Statistics Office showed on Monday.

Output prices in the manufacturing industry rose 2.0 percent year-over-year in March, slower than the 3.3 percent increase in February. Prices have been rising since November 2023.

Factory gate prices for chemicals and chemical products alone grew by 22.3 percent annually in March, and those for beverages rose by 8.9 percent.

Meanwhile, the slowdown in wholesale price growth was largely attributed to a 23.7 percent plunge in dairy products. Prices for other food products were 11.5 percent lower.

Prices for domestic sales decreased 2.3 percent in March from a year ago, while those for the export market rose by 2.3 percent.

Data also showed that wholesale electricity prices plunged 40.3 percent annually in March, and those for construction products dropped by 0.3 percent.

On a monthly basis, wholesale prices fell 0.9 percent versus a 1.1 percent rise in February.

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