Dairy products declined in price by 32.4% over the 12 months to December 2023, according to the latest figures from the Central Statistics Office (CSO).
Producer prices for food products dropped overall by 8.5% in the same period, while the food products and beverages index was down by 7.4%.
The most notable changes in producer prices for food products over the 12 months included dairy, along with grain milling starches and animal feeds, which were down 5%.
Vegetable and animal oils and fats were down 8.1%, and fish and fish products were up 8.9%.
Statistician in the prices division, Jillian Delaney said: “Prices on the wholesale market for the overall food products category were lower in December 2023 than at any time since December 2021.
“Producer prices for food products fell by 0.4% in the month and by 8.5% in the 12 months to December 2023. This comes after a previous monthly fall of 1.4% in November 2023.”
CSO construction
Wholesale prices for construction products remained unchanged in the month to December 2023, but rose by 0.3% in the 12 months since December 2022, according to the CSO.
Materials and wages also remained unchanged in the month, but were 2.2% higher than the same month last year.
Overall in 2023, construction materials showed large changes.
Some timber prices fell, with the 2023 average price for rough timber – including plain sawn down 15.2% while machined, treated engineered timber decreased by 8% compared to 2022.
Prices for steel products differed, with some types increasing and others decreasing. The overall category structural steel and reinforcing metal was up by 3.8%.
The all materials index increased by 6.3% on the 2022 average.