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Annual wholesale electricity prices up over 15% in July – CSO

By August 30, 2024No Comments

The wholesale cost of electricity rose 3% in the month to July, new data from the Central Statistics Office shows.

It meant that prices were 15.3% higher than they were in July of last year.

However, prices are still 58.5% lower than they were in July of 2022, when they were still being severely influenced by a spike in energy costs arising from the invasion of Ukraine by Russia.

They are also 71.4% down on the peak recorded in August of that year.

Overall, wholesale prices in the month rose 0.2% and in the year to the end of July were 5.4% up.

The CSO said domestic producer prices for manufactured goods were on average 0.4% higher in July compared to a year earlier.

While prices of goods produced for export were up 5.6%.

Wholesale producer prices for food were 2.1% lower in July versus a year earlier.

Fish and fish products rose 7.8% over the year.

But dairy products were 9.2% lower on an annual basis, although they climbed 3.4% in the month.

Grain milling, starches and animal feeds fell 4.9%.

The construction sector, where there is significant focus at present due to the housing shortage, saw materials ruse by 0.1% in the month and 0.5% in the year since July of last year.

Sand and gravel and rough timber were both 8.1% more expensive on a year on year basis, while concrete block and bricks were 6.1% higher.

When wages are included with materials, wholesale prices in the construction were found to have risen 0.1% in the month and 1.1% in the year to July.

Article Source – Annual wholesale electricity prices up over 15% in July – CSO – RTE

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