The price of electricity is now 194.9% higher than in August last year, according to recently published figures by the Central Statistics Office (CSO).
The Wholesale Price Index for August 2022 shows that the price of wholesale electricity rose by 45.1% within one month.
The overall energy products index, including petrol, autodiesel, gas oil, fuel oil, and electricity, increased by 38.5% since July 2022, and by 164.6% when compared to August 2021.
Wholesale electricity prices in July 2022 were 47% higher than the previous month, and 86.3% higher than during the same month last year. In June 2022, electricity prices were 26.9% higher than in May this year.
The CSO database also shows that in August 2021, prices were 256.2% higher than during the same month in 2020, when electricity prices were 19.1% lower than in 2019.
Meanwhile, producer prices for dairy products are almost 54% higher in August 2022 compared to the same month last year, according to CSO figures.
Producer prices for food products rose by 9.2% in the year to August 2022, including a 11.6% rise in meat and meat products, and a 20.4% increase in fish and fish products.
Commenting on the release, senior statistician in the CSO prices division, Edel Flannery said:
“Producer prices in several food categories were significantly higher in August 2022 compared with the same month last year. Outputs from Irish manufacturers also increased in price in several other categories.”
Food products that also recorded some of the most notable changes in producer prices were grain milling, starches and animal feeds which are up 14.5% in August 2022, compared to last year.
The Wholesale Price Index for August 2022 published by the CSO also shows that the food products, beverages and tobacco index increased by 8.9%.