New figures from the Central Statistics Office show that wholesale electricity prices jumped by 9.6% on a monthly basis in August, and were a huge 76.9% higher than the same time last year.
However, they are still 56% lower when compared with the peak that occurred in August 2022, the CSO noted.
Today’s CSO figures show that energy fuels – including petrol, diesel, and electricity – rose by 11% on a monthly basis and recorded an annual rise of 34.5%. This was mainly due to rising global oil prices as a result of the war in the Middle East.
Meanwhile, producer prices for food products fell by 2.1% in August on a monthly basis, while they were up 0.6% on the same month last year.
The CSO noted some of the biggest changes in producer prices for food products were for fish and fish products, which rose by 8.6%, while meat and meat Products were down 9.6%.