Producer prices for food products increased in Ireland by an average 7.6% in the 12 months to January 2025, but prices for dairy products soared by 18.6%, a new Central Statistics Office (CSO) report shows today (Friday, January 21).

The CSO Wholesale Price Index January 2025 details some of the most notable changes in producer prices for food products over the 12 months to January 2025.

Dairy products top the list with an 18.6% increase while "other food products" rose by 8.6% compared to meat and meat products which saw a rise of 4.1% over the same timeframe.

However producer prices for grain milling, starches and animal feeds declined by 2.9% in the year to January 2025.

One of the key trends identified in the latest CSO report is that wholesale electricity prices rose by almost 68% in the 12 months to January 2024.

Deirdre Toher, statistician in the CSO Prices Division, outlined that wholesale electricity prices rose by 22.3% in January 2025 when compared with December 2024 but they have fallen by 56.8% when compared with peak prices in August 2022.

Toher added: “Wholesale price inflation showed an increase in January 2025 with a 0.1% growth in the overall Producer Price Index for manufacturing industries in the month.

"In the 12 months to January 2025, export producer prices rose by 2.1% while overall producer prices were up by 2.1%".

The CSO report also highlights that wholesale prices for construction products grew by 0.1% in the month to January 2025 and rose by 1.3% in the 12 months since January 2024.

According to its latest analysis the most notable annual increases and decreases in construction products over the 12 months to January 2025 include:

Concrete blocks and bricks - up 8.0%;
Sand and gravel - up 7.7%;
Other structural steel - up 6.1%;
Cement - up 5.7%;
Reinforcing metal - down 8.8%.