Financial News: Ireland Wholesale Price Inflation Rises To 3.7%

Ireland Wholesale Price Inflation Rises To 3.7%

02/22/2023 - 08:21:00 (RTTNews)

(RTTNews) - Ireland's wholesale price inflation accelerated in January after easing in the previous two months, data from the Central Statistics Office showed on Wednesday.

Output prices in the manufacturing industries rose 3.7 percent year-over-year in January, faster than the 2.5 percent rise in December.

Factory gate prices for food products alone grew 6.2 percent in January compared to last year, largely led by a 26.6 percent surge in prices for dairy products.

Prices for wood and wood products registered a sharp yearly growth of 23.2 percent.

Prices for domestic sales climbed 8.2 percent in January from a year ago, and those for the export market were 3.5 percent more expensive.

Data also showed that wholesale electricity prices plunged 19.5 percent annually in January, and those for construction products grew 15.5 percent.

On a monthly basis, wholesale prices rose 1.3 percent in January, reversing a 1.3 percent fall in the previous month.

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