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Producer prices for food products up 6.2% in February

Producer prices for dairy products rose by 23.8% on an annual basis in February, new CSO figures show
Producer prices for dairy products rose by 23.8% on an annual basis in February, new CSO figures show

New figures from the Central Statistics Office show that producer prices for food products rose by 6.2% in the 12 months to February this year.

The CSO said that producer prices for dairy products rose by 23.8% on an annual basis.

Fish and fish products were up 18.2%, while fruit and vegetable prices increased by 18.2% and grain, milling, starches and animal feeds were up 12.2%.

Today's figures show that wholesale electricity prices decreased by 1.8% in February from January, while they were 9.2% lower in February of this year compared to the same month last year.

Overall, domestic producer prices for manufactured goods were on average 10.6% higher in February compared with a year earlier, while producer prices for exported goods increased by 3.1%.

The CSO said that wholesale price inflation showed signs of levelling off in February with no change to the overall producer price index for the manufacturing industries in the month.

The price index for export sales was the same as for January 2023, while the index for home sales rose by 0.1% in the month, it added.

Wholesale prices for construction products increased by 0.2% in the month and by 14.7% in the 12 months since February last year.

The CSO said the most notable changes in other producer prices in the year were a 22.4% increase in wood and wood products prices.

Other non-metallic mineral products - such as glass, ceramics, cement, concrete and stone - rose by 12%, while furniture producer prices were up 9.4%.

Wholesale prices for construction products increased by 0.2% in the month and by 14.7% in the 12 months since February 2022.