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Financial News: Ireland Wholesale Price Inflation Eases In August

Ireland Wholesale Price Inflation Eases In August

09/23/2022 - 08:43:00 (RTTNews)

(RTTNews) - Ireland's wholesale price inflation eased in August after remaining stable in the previous month, data from the Central Statistics Office showed on Friday.

Output prices in the manufacturing industries rose 4.7 percent year-over-year in August, slower than the 6.2 percent rise in July.

Factory gate prices for food products alone grew 9.2 percent in August compared to last year, largely led by higher prices of dairy products.

Prices for wood and wood products registered a sharp yearly growth of 33.9 percent.

Prices for domestic sales climbed 10.5 percent in August from a year ago, and those for the export market were 4.4 percent more expensive.

Data also showed that wholesale electricity prices jumped 194.9 percent annually in August, and those for construction products grew 17.8 percent.

On a monthly basis, wholesale prices fell 2.2 percent in August, reversing a 2.4 percent increase in the previous month.

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