Producer prices for dairy products dropped by almost 14% in the year to June 2024, according to the Central Statistics Office (CSO).
The Wholesale Price Index for June 2024, published today (Monday, July 22), shows that producer prices for dairy products decreased by 0.3% in the month to June 2024 and have dropped by 13.9% since June 2023.
Several other food categories showed notable changes in June 2024 when compared with the same month in 2023, including grain milling, starches and animal feeds (-5.3%).
Producer prices for food products rose by 0.4% in the month but dropped by 4.4% in the 12 months to June 2024.
Meat and meat product producer prices increased by 0.3% in the month to June, but showed an overall decrease of 0.9% since the same period of 2023.
There was no change in the price of wholesale electricity in June 2024. The price of electricity was 8.0% lower than in June 2023 and was 40.7% lower than in June 2022.
The price index for all energy fuels increased by 0.4% in June 2024 and was up by 9.5% in the year since June 2023.
Wholesale prices for construction products decreased by 0.1% over the 12 months to June 2024.
Notable annual increases and decreases in construction products include:
- Sand and gravel: 8.2%;
- Rough timber (hardwood): 8.1%;
- Cement: 5.7%;
- Reinforcing metal: -17.4%;
- Structural steel fabricated metal: -9.5%;
- Bituminous emulsions: -7.4%.
Deirdre Toher, statistician with the CSO said: “Wholesale price inflation showed an increase in June 2024 with a rise of 2.3% in the overall Producer Price Index for manufacturing industries in the month.
“The price index for export sales was up by 2.3% since May 2024, while the index for home sales was down by 0.3% in the month.
“Producer prices for products sold on the domestic market were 1.0% lower in June 2024 compared with June 2023. In the year, export producer prices rose by 2.9% while overall producer prices were up by 2.8%,” Toher added.