Irish Wholesale Price Inflation Highest Since October 2022

(RTTNews) - Ireland's wholesale price inflation accelerated in July to the highest level in nearly four years, data from the Central Statistics Office showed on Friday.

Output prices in the manufacturing industry climbed 7.3 percent year-over-year in July, faster than the 3.5 percent increase in June. Moreover, this was the quickest increase since October 2022, when prices surged 13.6 percent.

Factory gate prices for chemicals and chemical products grew 16.5 percent from last year, and those for food products rose by 2.7 percent.

Data showed that costs for all electrical equipment climbed 6.2 percent annually, and the price index for other non-metallic mineral products was 6.4 percent costlier. Wholesale electricity prices jumped 56.2 percent, and prices for construction products increased 3.3 percent.

On a monthly basis, output prices rebounded 3.2 percent in July, reversing a 0.2 percent fall in June.