Producer prices for dairy products rose by almost 53% in the year to July 2022, according to the Central Statistics Office (CSO).
The Wholesale Price Index for July 2022, published today (Monday, August 22), shows that producer prices for food products increased by 11% overall in 12 months.
Meat and meat product prices were up by 13%, there was a 14.2% increase in grain milling, starches, and animal feed prices and the cost of fish and fish products jumped by almost 20%.
There was a 3.6% increase in fruit and vegetable prices compared to July 2021, while vegetable and animal fats and oils rose by 4%.
The CSO noted that the food products, beverages and tobacco index saw an increase of over 10%.
Meanwhile, wholesale electricity prices in July were 47% higher than the previous month. The price of electricity is now 86.3% higher than in July 2021.
The overall energy products index followed these trends, going up by 37% since June 2022, and up nearly 78% when compared to July 2021.
Wholesale prices for construction products rose by 3.8% in the month and 20.6% in the year.
Wood and wood product prices were up 36.6% in a year, there was a 28% jump in the cost of basic metals, while other products such as glass, ceramics, cement, concrete and stone rose by 22%.
The all materials index for construction products rose by 3.8% in the month and 20.6% in the year.
Commenting on the release, Jillian Delaney, statistician in the CSO prices division, said:
“Wholesale and producer prices continued to rise in most categories in July 2022. Producer prices in several food categories were significantly higher in July 2022 compared with the same month last year.
“Outputs from Irish manufacturers also increased in price in several other categories.
“Monthly manufacturing factory gate prices increased by 2.4% in July 2022, the same increase for July of last year.
“The annual percentage change rose by 6.2% in July 2022, the same increase in the year to June 2022,” she stated.
Delaney added that an increase of 6% in the price index for export sales was influenced by currency fluctuations. In the month, the price index for export sales was up 2.4%.