New figures from the Central Statistics Office show that wholesale price inflation slowed in November with a drop of 0.1% in the overall Producer Price Index for manufacturing industries in the month.
The CSO said that producer prices for products sold on the domestic market were 3.7% lower in November compared to last year, but export producer prices rose by 1.6% and overall producer prices were up by 1.4% in the year.
Today's figures show that wholesale electricity prices decreased by 2.1% in the month to November and were 14.1% lower on the same time last year.
The overall Energy Products Index was down by 2.5% since October 2023 and was down by 11.8% when compared with November last year.
The CSO figures also reveal that producer prices for food products fell by 1.4% on a monthly basis and were 8.8% lower in the 12 months to November 2023 after a previous monthly fall of 1.1% in October.
The CSO noted that food products prices on the wholesale market were lower in November than at any time since December 2021.
Producer prices for Dairy Products remained unchanged since October but were down by 35% since November 2022.
The CSO also said that other food categories showed big changes in November 2023 on November 2022, including Fish & Fish Products producer prices, which were down 9.3%, while Vegetable & Animal Oils & Fats producer prices fell by 8.2%, and Other Food Products were down 6.4%.
Meanwhile, wholesale prices for construction products fell by 0.3% in the month to November but were 0.4% higher than the same time last year.
