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Press Statement

Preasráiteas

22 July 2022

Wholesale Price Index June 2022

Producer Prices for dairy products rose by more than 49% in the year to June 2022
  • Significant price rises in several food categories in June 2022 compared with June 2021, with increases in Dairy Products (+49.1%), Meat & Meat Products (+14.5%), and Grain Milling, Starches & Animal Feeds (+11.7%)
  • Wholesale Electricity prices have gone up 91.3% since June 2021 and 26.9% compared to May 2022
  • Prices for Wholesale Construction products rose by 18.5% annually and 2.4% in the month
  • Prices charged by Irish manufacturers on the domestic market increased by 8.0% compared to June 2021
  • Export producer price indices in the manufacturing sector grew by 6.0% in the year

Go to release: Wholesale Price Index June 2022

The Central Statistics Office (CSO) has today (22 July 2022) released the Wholesale Price Index for June 2022.

Commenting on the release, Jillian Delaney, Statistician in the Prices Division, said: â€śPrices in several food categories produced by Irish manufacturers were significantly higher in June 2022 compared to the same month last year. Some of the most notable annual increases were:

  • Dairy Products 49.1%
  • Meat & Meat Products 14.5%
  • Grain Milling, Starches & Animal Feeds 11.7%
  • Food Products 10.2%
  • Food Products, Beverages & Tobacco Products 9.9% 

Outputs from Irish manufacturers also increased in price in several other categories. Wood & Wood Products were 38.1% more expensive than this time last year. Basic Metals were up 33.0% and Other Non-Metallic Mineral Products such as glass, ceramics, cement, concrete, and stone rose by 23.2%. Mining & Quarrying prices also had a large annual increase of 23.7%. 

The Producer Price Index for the Manufacturing sector was 6.2% higher in June 2022 than in the same month in 2021. Products sold on the domestic market increased by 8.0%, while exported products were 6.0% more expensive.

In the month, prices charged for Irish manufactured products on the domestic market increased by 0.6%. Manufactured products for export decreased in price by 0.1% on May 2022, while the total producer price index for manufacturing was also down 0.1%.

Wholesale Construction Prices

The All Materials Index for construction products rose by 18.5% in the year and 2.4% in the month. Notable annual increases in construction products include:

  • Other Timber, Other (this includes treated wooden products) 109.6%
  • Structural Steel & Reinforcing Metal 47.2%
  • Bituminous Emulsions 28.3%
  • Plumbing Materials Incl. Sanitary Ware 23.4%
  • Ready Mixed Mortar & Concrete 23.0%
  • Plaster 22.9% 

The Building & Construction (i.e. Materials & Wages) Index increased by 10.9% in the year and 1.3% in the month. This index combines the All Materials Index with a measure of the change in wages in the construction sector to provide an overall measure of input construction costs.

Wholesale Electricity Prices

There was an increase in the price of Wholesale Electricity in June 2022, with prices 26.9% higher than in May 2022. Coming on top of other price rises in the last year, the wholesale price of electricity is now 91.3% higher than in June 2021. The overall Energy Products Index followed these trends, going up by 22.8% since May 2022, and by 80.8% when compared to June 2021."

Editor's Note:

The Producer Prices section of the release is a price index based on industrial products manufactured in Ireland, or under contract abroad. The Wholesale Price Indices for Building and Construction Materials, Capital Goods Price Indices, and Wholesale Price indices for Energy products include imported products as well as those manufactured in Ireland. 

Eurostat publishes Industrial Producer Price Indices from all EU member states including Ireland here. The headline domestic industrial producer price used in Eurostat news releases is an aggregate of all industrial sectors, including Mining & Quarrying, Manufacturing and Electricity & Gas Supply. This index is not included in the Wholesale Price Index release, but is calculated by aggregating the domestic indices for Mining & Quarrying with Manufacturing and the Wholesale Electricity Index from Table 5. Due to recent volatility in energy prices, and the significant effect of electricity in the domestic market, this measure of domestic industrial producer prices has been highly volatile in recent months.

For further information contact:

Jillian Delaney (+353) 21 453 5258 or Margaret O'Mahony (+353) 21 453 5769

or email wpi@cso.ie

or email Jillian.Delaney@cso.ie

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