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Wholesale Price Index December 2023

Wholesale electricity prices fell by over 67% in the 12 months to December 2023

Online ISSN: 2009-5198

CSO statistical publication, 30 January 2024, 11am

Key Findings

Wholesale electricity prices fell by 27.6% in the month to December 2023 and were 67.8% lower in the 12 months to December 2023.
Domestic producer prices for manufactured goods were on average 3.7% lower in December 2023 when compared with a year earlier, while producer prices for exported goods rose by 2.4%. Overall, manufacturing producer prices were 2.1% higher in the year.
Producer prices for food products dropped by 8.5% in the 12 months to December 2023, while the Food Products, Beverages & Tobacco Index was down by 7.4%.
Some of the most notable changes in producer prices for food products over the 12 months to December 2023 were: Fish & Fish Products (+8.9%), Dairy Products (-32.4%), Vegetable & Animal Oils & Fats (-8.1%), and Other Food Products (-5.6%).
The most notable changes in other producer prices in the year to December 2023 were: Chemicals & Chemical Products (+22.5%), Beverages (+10.2%), Wearing Apparel (+6.7%), Wood & Wood Products (-10.2%), and Basic Metals (-7.5%).
Wholesale prices for construction products remain unchanged in the month to December 2023 but rose by 0.3% in the 12 months since December 2022.

Statistician's Comment

The Central Statistics Office (CSO) has today (30 January 2024) released the Wholesale Price Index (WPI) December 2023.

Commenting on the release, Jillian Delaney, Statistician in the Prices Division, said:

''During 2023, wholesale electricity prices continued to trend downwards. Electricity prices fell by 27.6% in December 2023 and were 67.8% lower than in December 2022. Wholesale electricity prices were at their lowest point in December 2023 since April 2021. The changes in electricity prices over the last two years can be seen in Figure 3 (See also Table 5).

Food Products

Prices on the wholesale market for the overall Food products category were lower in December 2023 than at any time since December 2021. Producer prices for food products fell by 0.4% in the month and by 8.5% in the 12 months to December 2023. This comes after a previous monthly fall of 1.4% in November 2023. Producer prices for Dairy Products were down by 32.4% since December 2022. Several other food categories showed notable changes in December 2023 when compared with the same month in 2022, including Fish & Fish Products (+8.9%), Vegetable & Animal Oils & Fats (-8.1%), Other Food Products (-5.6%), and Grain Milling, Starches & Animal Feeds (-5.0%) (See Table 2).

Construction Materials

The All Materials Index for construction products remained unchanged in December 2023 but grew by 0.3% in the year, while the Building & Construction Index (i.e. Materials and Wages) also remained unchanged in the month but was 2.2% higher than the same month last year (See Tables 3 and 4).

Manufacturing Industries

Wholesale price inflation showed a decrease in December 2023 with a drop of 0.6% in the overall Producer Price Index for manufacturing industries in the month. The price index for export sales was down by 0.6% since November 2023, while the index for home sales remained unchanged in the month. Producer prices for products sold on the domestic market were 3.7% lower in December 2023 compared with December 2022, with export producer prices increasing by 2.4% and overall producer prices up by 2.1% in the year.''

Headline Table and Graph

Wholesale Price Index- December 2023
	Price index (Year ‘15=100)	% monthly change	% annual change
Oct 2023	88.0	1.1%	-2.4%
Nov 2023	87.9	-0.1%	1.4%
Dec 2023	87.4	-0.6%	2.1%

Open in Excel: Wholesale Price Index December 2023 Headline Table (XLS 10KB)

	Output Price Index
Jan 2016	3.3
Feb 2016	1
Mar 2016	-2.2
Apr 2016	-4.1
May 2016	-1.2
Jun 2016	-1.9
Jul 2016	-1.6
Aug 2016	-1.5
Sep 2016	-2.4
Oct 2016	0.9
Nov 2016	-1.3
Dec 2016	-0.1
Jan 2017	0.6
Feb 2017	0.3
Mar 2017	3.5
Apr 2017	5.4
May 2017	4.5
Jun 2017	2.5
Jul 2017	1
Aug 2017	-0.7
Sep 2017	0.8
Oct 2017	-7.3
Nov 2017	-9.1
Dec 2017	-4.7
Jan 2018	-4.4
Feb 2018	-4.3
Mar 2018	-6.1
Apr 2018	-7.4
May 2018	-5.6
June 2018	-1.3
Jul 2018	-1.2
Aug 2018	-0.3
Sep 2018	0.3
Oct 2018	1.9
Nov 2018	3.1
Dec 2018	-2.3
Jan 2019	0.1
Feb 2019	0.1
Mar 2019	0.4
Apr 2019	0.9
May 2019	-0.7
Jun 2019	-2.4
Jul 2019	-2
Aug 2019	-1.2
Sep 2019	-0.7
Oct 2019	-2.2
Nov 2019	-1.9
Dec 2019	-2
Jan 2020	-4.2
Feb 2020	-1.4
Mar 2020	-5.4
Apr 2020	-8.3
May 2020	-9.3
Jun 2020	-10.4
Jul 2020	-10.6
Aug 2020	-12.4
Sep 2020	-12.4
Oct 2020	-5.1
Nov 2020	-10.7
Dec 2020	-14.5
Jan 2021	-12.6
Feb 2021	-14
Mar 2021	-10.1
Apr 2021	-7
May 2021	-7.6
Jun 2021	-5.3
Jul 2021	-2.1
Aug 2021	-1.4
Sep 2021	-1.9
Oct 2021	-2.6
Nov 2021	0.2
Dec 2021	4.5
Jan 2022	3.5
Feb 2022	2.8
Mar 2022	4.4
Apr 2022	5.2
May 2022	7.3
Jun 2022	6.2
Jul 2022	6.2
Aug 2022	4.7
Sep 2022	6.1
Oct 2022	8
Nov 2022	3.8
Dec 2022	2.5
Jan 2023	3.7
Feb 2023	3.6
Mar 2023	1.5
Apr 2023	-0.7
May 2023	-1.1
Jun 2023	-0.6
Jul 2023	-5.2
Aug 2023	-0.3
Sep 2023	-1.6
Oct 2023	-2.4
Nov 2023	1.4
Dec 2023	2.1

	Home	Export
Jan 2015	100.2	96.8
Feb 2015	99.6	98.8
Mar 2015	99.9	101.1
Apr 2015	99.8	102.6
May 2015	100	100.2
Jun 2015	99.9	99.8
Jul 2015	100	99.8
Aug 2015	100.3	100.2
Sep 2015	100.2	98.9
Oct 2015	100	96.6
Nov 2015	100	102.8
Dec 2015	100	102.5
Jan 2016	100	100.2
Feb 2016	99.1	99.9
Mar 2016	99.5	98.9
Apr 2016	100.8	98.1
May 2016	100.9	98.9
Jun 2016	101	97.7
Jul 2016	101	98.1
Aug 2016	100.1	98.7
Sep 2016	100	96.4
Oct 2016	100	97.6
Nov 2016	100.1	101.5
Dec 2016	100.1	102.4
Jan 2017	100.4	100.8
Feb 2017	99.2	100.1
Mar 2017	99.5	102.6
Apr 2017	99.5	103.7
May 2017	99.4	103.7
Jun 2017	99.5	100.3
Jul 2017	99.6	99.2
Aug 2017	99.5	97.9
Sep 2017	99.8	97.2
Oct 2017	99.7	90.2
Nov 2017	97.7	91.9
Dec 2017	97.7	97.5
Jan 2018	98	96.4
Feb 2018	98.1	95.7
Mar 2018	98.4	96.1
Apr 2018	98.8	95.6
May 2018	98.6	97.7
Jun 2018	98.9	99
Jul 2018	99	98
Aug 2018	99	97.6
Sep 2018	99.4	97.5
Oct 2018	99.4	92
Nov 2018	99.4	94.9
Dec 2018	99.7	95.2
Jan 2019	100.6	96.4
Feb 2019	101.3	95.6
Mar 2019	101.2	96.4
Apr 2019	101.1	96.5
May 2019	101.1	96.8
Jun 2019	101.1	96.4
Jul 2019	101.3	95.8
Aug 2019	101.4	96.3
Sep 2019	101.3	96.8
Oct 2019	101.1	89.8
Nov 2019	101.3	93
Dec 2019	101	93
Jan 2020	99.7	92.1
Feb 2020	100	94.4
Mar 2020	100.1	91.1
Apr 2020	99.7	88.2
May 2020	99.6	87.5
Jun 2020	99.7	86.1
Jul 2020	99.7	85.2
Aug 2020	99.6	83.9
Sep 2020	99.9	84.3
Oct 2020	99.9	85
Nov 2020	99.5	82.6
Dec 2020	99.6	79.1
Jan 2021	100	79.9
Feb 2021	99.5	80.7
Mar 2021	99.8	81.4
Apr 2021	100.2	81.7
May 2021	100.9	80.4
Jun 2021	101.5	81.2
Jul 2021	102.5	83.2
Aug 2021	102.4	82.5
Sep 2021	102.8	82.4
Oct 2021	103.9	82.7
Nov 2021	104.5	82.5
Dec 2021	105.5	82.5
Jan 2022	107.9	82.5
Feb 2022	105.7	82.8
Mar 2022	106.1	84.9
Apr 2022	107.3	85.9
May 2022	108.9	86.2
Jun 2022	109.6	86.1
Jul 2022	112.2	88.2
Aug 2022	113.2	86.1
Sep 2022	113.5	87.3
Oct 2022	114.6	89.1
Nov 2022	114.8	85.5
Dec 2022	114.9	84.4
Jan 2023	116.8	85.4
Feb 2023	116.9	85.4
Mar 2023	115.9	85.8
Apr 2023	115.7	84.9
May 2023	114.7	85
Jun 2023	113.9	85.4
Jul 2023	112.4	83.4
Aug 2023	112	85.8
Sep 2023	111.3	85.9
Oct 2023	111	87
Nov 2023	110.6	86.9
Dec 2023	110.6	86.4

Wholesale prices for construction products increased by 0.3% over 12 months

Notable annual increases and decreases in construction products as shown in Table 3 include:

Other Steel Products: 12.0%
Paints, Oils & Varnishes: 10.0%
Stone; Sand & Gravel; Stone: 9.4%
Other Treated Timber: -31.6%
Reinforcing Metal: -27.1%
Other Structural Steel: -23.4%

The Building & Construction Index (i.e. Materials and Wages) remained unchanged in the month to December 2023 but rose by 2.2% in the 12 months to December 2023. This index combines the All Materials Index with a measure of the change in wages in the Construction sector to provide an overall index for input construction costs (See Table 4).

Wholesale electricity prices decreased by 67.8% annually

There was a drop in the price of wholesale electricity in December 2023 with prices 27.6% lower than the previous month. The price of electricity was 67.8% lower than in December 2022. The overall Energy Products Index was down by 22.7% since November 2023 and was down by 60.3% when compared with December 2022 (See Figure 3 and Table 5).

	Wholesale Price Index - Electricity
Jan 2021	144.7
Feb 2021	106.2
Mar 2021	134.5
Apr 2021	157.7
May 2021	178.5
Jun 2021	175.4
Jul 2021	264.7
Aug 2021	242.6
Sep 2021	360.9
Oct 2021	396.1
Nov 2021	377.8
Dec 2021	462.2
Jan 2022	371.8
Feb 2022	323.5
Mar 2022	541.3
Apr 2022	402.9
May 2022	264.5
Jun 2022	335.6
Jul 2022	493.2
Aug 2022	715.5
Sep 2022	522.9
Oct 2022	251.2
Nov 2022	264.2
Dec 2022	510.4
Jan 2023	299.3
Feb 2023	293.8
Mar 2023	268.1
Apr 2023	231.8
May 2023	194.2
Jun 2023	216.2
Jul 2023	177.6
Aug 2023	196.5
Sep 2023	206
Oct 2023	231.7
Nov 2023	226.9
Dec 2023	164.2

Table 1 Manufacturing Industries Output Price Indices (excluding VAT)

Table 1 Manufacturing Industries Output Price Indices (excluding VAT)
							Base: Year 2015 as 100
		Manufacturing Industries Output Price Index			Manufacturing Industries Output Price Index (Home Sales)			Manufacturing Industries Output Price Index (Export Sales)
		Manufacturing Industries Output Price Index			Manufacturing Industries Output Price Index (Home Sales)			Manufacturing Industries Output Price Index (Export Sales)
Period		Price Index	% Change on preceding period	Annual % change	Price Index	% Change on Preceding Period		Price Index	% Change on Preceding Period
Period		Price Index	% Change on preceding period	Annual % change	Price Index	% Change on Preceding Period		Price Index	% Change on Preceding Period
2015	Year	100.0	-	-	100.0	-		100.0	-
2016	Year	99.1	-0.9	-0.9	100.2	0.2		99.0	-1.0
2017	Year	98.8	-0.3	-0.3	99.3	-0.9		98.8	-0.2
2018	Year	96.4	-2.4	-2.4	98.9	-0.4		96.3	-2.5
2019	Year	95.5	-0.9	-0.9	101.2	2.3		95.2	-1.1
2020	Year	87.2	-8.7	-8.7	99.8	-1.4		86.6	-9.0
2021	Year	82.6	-5.3	-5.3	102.0	2.2		81.8	-5.5
2022	Year	86.8	5.1	5.1	110.7	8.5		85.8	4.9
2023	Year	86.8	0.0	0.0	113.5	2.5		85.6	-0.2

2015	Quarter 1	99.0	-	-	99.9	-		98.9	-
	Quarter 2	100.8	1.8	-	99.9	0.0		100.9	2.0
	Quarter 3	99.6	-1.2	-	100.2	0.3		99.6	-1.3
	Quarter 4	100.6	1.0	-	100.0	-0.2		100.6	1.0

2016	Quarter 1	99.6	-1.0	0.6	99.5	-0.5		99.7	-0.9
	Quarter 2	98.4	-1.2	-2.4	100.9	1.4		98.2	-1.5
	Quarter 3	97.8	-0.6	-1.8	100.4	-0.5		97.7	-0.5
	Quarter 4	100.5	2.8	-0.1	100.1	-0.3		100.5	2.9

2017	Quarter 1	101.1	0.6	1.5	99.7	-0.4		101.2	0.7
	Quarter 2	102.4	1.3	4.1	99.5	-0.2		102.6	1.4
	Quarter 3	98.2	-4.1	0.4	99.6	0.1		98.1	-4.4
	Quarter 4	93.4	-4.9	-7.1	98.4	-1.2		93.2	-5.0

2018	Quarter 1	96.1	2.9	-4.9	98.2	-0.2		96.1	3.1
	Quarter 2	97.5	1.5	-4.8	98.8	0.6		97.4	1.4
	Quarter 3	97.8	0.3	-0.4	99.1	0.3		97.7	0.3
	Quarter 4	94.2	-3.7	0.9	99.5	0.4		94.0	-3.8

2019	Quarter 1	96.3	2.2	0.2	101.0	1.5		96.1	2.2
	Quarter 2	96.8	0.5	-0.7	101.1	0.1		96.6	0.5
	Quarter 3	96.5	-0.3	-1.3	101.3	0.2		96.3	-0.3
	Quarter 4	92.3	-4.4	-2.0	101.1	-0.2		91.9	-4.6

2020	Quarter 1	92.8	0.5	-3.6	99.9	-1.2		92.5	0.7
	Quarter 2	87.8	-5.4	-9.3	99.7	-0.2		87.3	-5.6
	Quarter 3	85.1	-3.1	-11.8	99.7	0.0		84.5	-3.2
	Quarter 4	83.0	-2.5	-10.1	99.7	0.0		82.2	-2.7

2021	Quarter 1	81.5	-1.8	-12.2	99.8	0.1		80.7	-1.8
	Quarter 2	81.9	0.5	-6.7	100.9	1.1		81.1	0.5
	Quarter 3	83.5	2.0	-1.9	102.6	1.7		82.7	2.0
	Quarter 4	83.5	0.0	0.6	104.6	1.9		82.6	-0.1

2022	Quarter 1	84.4	1.1	3.6	106.6	1.9		83.4	1.0
	Quarter 2	87.0	3.1	6.2	108.6	1.9		86.1	3.2
	Quarter 3	88.3	1.5	5.7	113.0	4.1		87.2	1.3
	Quarter 4	87.5	-0.9	4.8	114.8	1.6		86.3	-1.0

2023	Quarter 1	86.8	-0.8	2.8	116.5	1.5		85.5	-0.9
	Quarter 2	86.3	-0.6	-0.8	114.8	-1.5		85.1	-0.5
	Quarter 3	86.2	-0.1	-2.4	111.9	-2.5		85.0	-0.1
	Quarter 4	87.8	1.9	0.3	110.7	-1.1		86.8	2.1

2015	January	97.0	-	-	100.2	-		96.8	-
	February	98.8	1.9	-	99.6	-		98.8	-
	March	101.1	2.3	-	99.9	-		101.1	-
	April	102.4	1.3	-	99.8	-		102.6	-
	May	100.2	-2.1	-	100.0	-		100.2	-
	June	99.8	-0.4	-	99.9	-		99.8	-
	July	99.8	0.0	-	100.0	-		99.8	-
	August	100.2	0.4	-	100.3	-		100.2	-
	September	98.9	-1.3	-	100.2	-		98.9	-
	October	96.8	-2.1	-	100.0	-		96.6	-
	November	102.7	6.1	-	100.0	-		102.8	-
	December	102.4	-0.3	-	100.0	-		102.5	-

2016	January	100.2	-2.1	3.3	100.0	0.0		100.2	-2.2
	February	99.8	-0.4	1.0	99.1	-0.9		99.9	-0.3
	March	98.9	-0.9	-2.2	99.5	0.4		98.9	-1.0
	April	98.2	-0.7	-4.1	100.8	1.3		98.1	-0.8
	May	99.0	0.8	-1.2	100.9	0.1		98.9	0.8
	June	97.9	-1.1	-1.9	101.0	0.1		97.7	-1.2
	July	98.2	0.3	-1.6	101.0	0.0		98.1	0.4
	August	98.7	0.5	-1.5	100.1	-0.9		98.7	0.6
	September	96.5	-2.2	-2.4	100.0	-0.1		96.4	-2.3
	October	97.7	1.2	0.9	100.0	0.0		97.6	1.2
	November	101.4	3.8	-1.3	100.1	0.1		101.5	4.0
	December	102.3	0.9	-0.1	100.1	0.0		102.4	0.9

2017	January	100.8	-1.5	0.6	100.4	0.3		100.8	-1.6
	February	100.1	-0.7	0.3	99.2	-1.2		100.1	-0.7
	March	102.4	2.3	3.5	99.5	0.3		102.6	2.5
	April	103.5	1.1	5.4	99.5	0.0		103.7	1.1
	May	103.5	0.0	4.5	99.4	-0.1		103.7	0.0
	June	100.3	-3.1	2.5	99.5	0.1		100.3	-3.3
	July	99.2	-1.1	1.0	99.6	0.1		99.2	-1.1
	August	98.0	-1.2	-0.7	99.5	-0.1		97.9	-1.3
	September	97.3	-0.7	0.8	99.8	0.3		97.2	-0.7
	October	90.6	-6.9	-7.3	99.7	-0.1		90.2	-7.2
	November	92.2	1.8	-9.1	97.7	-2.0		91.9	1.9
	December	97.5	5.7	-4.7	97.7	0.0		97.5	6.1

2018	January	96.4	-1.1	-4.4	98.0	0.3		96.4	-1.1
	February	95.8	-0.6	-4.3	98.1	0.1		95.7	-0.7
	March	96.2	0.4	-6.1	98.4	0.3		96.1	0.4
	April	95.8	-0.4	-7.4	98.8	0.4		95.6	-0.5
	May	97.7	2.0	-5.6	98.6	-0.2		97.7	2.2
	June	99.0	1.3	-1.3	98.9	0.3		99.0	1.3
	July	98.0	-1.0	-1.2	99.0	0.1		98.0	-1.0
	August	97.7	-0.3	-0.3	99.0	0.0		97.6	-0.4
	September	97.6	-0.1	0.3	99.4	0.4		97.5	-0.1
	October	92.3	-5.4	1.9	99.4	0.0		92.0	-5.6
	November	95.1	3.0	3.1	99.4	0.0		94.9	3.2
	December	95.3	0.2	-2.3	99.7	0.3		95.2	0.3

2019	January	96.5	1.3	0.1	100.6	0.9		96.4	1.3
	February	95.9	-0.6	0.1	101.3	0.7		95.6	-0.8
	March	96.6	0.7	0.4	101.2	-0.1		96.4	0.8
	April	96.7	0.1	0.9	101.1	-0.1		96.5	0.1
	May	97.0	0.3	-0.7	101.1	0.0		96.8	0.3
	June	96.6	-0.4	-2.4	101.1	0.0		96.4	-0.4
	July	96.0	-0.6	-2.0	101.3	0.2		95.8	-0.6
	August	96.5	0.5	-1.2	101.4	0.1		96.3	0.5
	September	96.9	0.4	-0.7	101.3	-0.1		96.8	0.5
	October	90.3	-6.8	-2.2	101.1	-0.2		89.8	-7.2
	November	93.3	3.3	-1.9	101.3	0.2		93.0	3.6
	December	93.4	0.1	-2.0	101.0	-0.3		93.0	0.0

2020	January	92.4	-1.1	-4.2	99.7	-1.3		92.1	-1.0
	February	94.6	2.4	-1.4	100.0	0.3		94.4	2.5
	March	91.4	-3.4	-5.4	100.1	0.1		91.1	-3.5
	April	88.7	-3.0	-8.3	99.7	-0.4		88.2	-3.2
	May	88.0	-0.8	-9.3	99.6	-0.1		87.5	-0.8
	June	86.6	-1.6	-10.4	99.7	0.1		86.1	-1.6
	July	85.8	-0.9	-10.6	99.7	0.0		85.2	-1.0
	August	84.5	-1.5	-12.4	99.6	-0.1		83.9	-1.5
	September	84.9	0.5	-12.4	99.9	0.3		84.3	0.5
	October	85.7	0.9	-5.1	99.9	0.0		85.0	0.8
	November	83.3	-2.8	-10.7	99.5	-0.4		82.6	-2.8
	December	79.9	-4.1	-14.5	99.6	0.1		79.1	-4.2

2021	January	80.8	1.1	-12.6	100.0	0.4		79.9	1.0
	February	81.4	0.7	-14.0	99.5	-0.5		80.7	1.0
	March	82.2	1.0	-10.1	99.8	0.3		81.4	0.9
	April	82.5	0.4	-7.0	100.2	0.4		81.7	0.4
	May	81.3	-1.5	-7.6	100.9	0.7		80.4	-1.6
	June	82.0	0.9	-5.3	101.5	0.6		81.2	1.0
	July	84.0	2.4	-2.1	102.5	1.0		83.2	2.5
	August	83.3	-0.8	-1.4	102.4	-0.1		82.5	-0.8
	September	83.3	0.0	-1.9	102.8	0.4		82.4	-0.1
	October	83.5	0.2	-2.6	103.9	1.1		82.7	0.4
	November	83.5	0.0	0.2	104.5	0.6		82.5	-0.2
	December	83.5	0.0	4.5	105.5	1.0		82.5	0.0

2022	January	83.6	0.1	3.5	107.9	2.3		82.5	0.0
	February	83.7	0.1	2.8	105.7	-2.0		82.8	0.4
	March	85.8	2.5	4.4	106.1	0.4		84.9	2.5
	April	86.8	1.2	5.2	107.3	1.1		85.9	1.2
	May	87.2	0.5	7.3	108.9	1.5		86.2	0.3
	June	87.1	-0.1	6.2	109.6	0.6		86.1	-0.1
	July	89.2	2.4	6.2	112.2	2.4		88.2	2.4
	August	87.2	-2.2	4.7	113.2	0.9		86.1	-2.4
	September	88.4	1.4	6.1	113.5	0.3		87.3	1.4
	October	90.2	2.0	8.0	114.6	1.0		89.1	2.1
	November	86.7	-3.9	3.8	114.8	0.2		85.5	-4.0
	December	85.6	-1.3	2.5	114.9	0.1		84.4	-1.3

2023	January	86.7	1.3	3.7	116.8	1.7		85.4	1.2
	February	86.7	0.0	3.6	116.9	0.1		85.4	0.0
	March	87.1	0.5	1.5	115.9	-0.9		85.8	0.5
	April	86.2	-1.0	-0.7	115.7	-0.2		84.9	-1.0
	May	86.2	0.0	-1.1	114.7	-0.9		85.0	0.1
	June	86.6	0.5	-0.6	113.9	-0.7		85.4	0.5
	July	84.6	-2.3	-5.2	112.4	-1.3		83.4	-2.3
	August	86.9	2.7	-0.3	112.0	-0.4		85.8	2.9
	September	87.0	0.1	-1.6	111.3	-0.6		85.9	0.1
	October	88.0	1.1	-2.4	111.0	-0.3		87.0	1.3
	November	87.9	-0.1	1.4	110.6	-0.4		86.9	-0.1
	December	87.4	-0.6	2.1	110.6	0.0		86.4	-0.6

Open in Excel: Wholesale Price Index December 2023 Table 1 (XLS 20KB)

Table 2 Industrial Producer Price Indices (excluding VAT)

Table 2 Industrial Producer Price Indices (excluding VAT)
Base: Year 2015 as 100
Industrial Sector	NACE code¹	Index			Monthly % Change		Annual % Change
		Nov 2023	Dec 2023	Year 2023	Nov 2023	Dec 2023	Dec 2023	Year³ 2023
		Nov 2023	Dec 2023	Year 2023	Nov 2023	Dec 2023	Dec 2023	Year³ 2023
Food Products	10	99.5	99.1	104.5	-1.4	-0.4	-8.5	-3.2
Meat and meat products	101	115.4	114.1	117.4	-0.9	-1.1	-2.3	0.1
Fish and fish products	102	163.5	163.3	156.9	-0.2	-0.1	8.9	9.7
Fruit and vegetables	103	116.0	116.0	116.0	0.0	0.0	0.0	12.5
Vegetable and animal oils and fats	104	91.9	93.0	94.7	-0.5	1.2	-8.1	-7.1
Dairy products	105	122.5	124.1	147.6	0.0	1.3	-32.4	-11.9
Grain milling, starches and animal feeds	106,109	118.3	117.9	121.8	-0.8	-0.3	-5.0	2.9
Bakery and farinaceous products	107	98.5	99.2	98.8	-0.2	0.7	1.0	2.2
Other food products	108	83.5	83.0	87.1	-2.2	-0.6	-5.6	-4.3
Beverages	11	119.2	118.7	114.5	-0.8	-0.4	10.2	11.4
Tobacco	12	..	..	..	..	..	..	..
Textiles	13	106.1	106.1	106.0	0.0	0.0	2.9	-3.6
Wearing apparel	14	118.9	118.9	118.9	0.0	0.0	6.7	7.6
Leather and leather products (incl. footwear); dressing and dyeing of fur	15	102.7	102.7	102.7	0.0	0.0	0.0	0.2
Wood and wood products	16	148.7	146.7	154.3	-0.8	-1.3	-10.2	-2.3
Pulp, paper and paper products	17	102.5	102.7	103.9	-0.1	0.2	-1.5	2.6
Printing and reproduction of recorded media	18	101.6	101.6	104.9	-5.6	0.0	-3.5	1.3
Coke and refined petroleum products	19	..	..	..	..	..	..	..
Chemicals and chemical products	20	123.8	123.8	106.7	-0.1	0.0	22.5	6.1
Basic pharmaceutical products and pharmaceutical preparations	21	..	..	..	..	..	..	..
Rubber and plastic products	22	120.9	121.7	119.4	-0.2	0.7	3.7	4.5
Other non-metallic mineral products	23	143.3	144.0	143.0	-1.1	0.5	1.7	9.1
Basic metals	24	118.6	118.4	122.8	0.3	-0.2	-7.5	-6.5
Fabricated metal products, except machinery and equipment	25	115.6	116.1	115.9	-0.3	0.4	0.5	3.9
Computer, electronic and optical products	26	..	..	..	..	..	..	..
Electrical equipment	27	103.3	103.4	102.9	-0.3	0.1	4.2	4.6
Machinery and equipment n.e.c.	28	..	..	..	..	..	..	..
Motor vehicles, trailers and semi-trailers	29	107.9	107.9	107.8	0.0	0.0	0.1	0.2
Other transport equipment	30	115.7	115.7	115.1	0.0	0.0	0.8	0.7
Furniture	31	129.7	129.7	129.6	0.0	0.0	0.9	4.4
Other Manufacturing	32	..	..	..	..	..	..	..
Repair and installation of machinery and equipment	33	..	..	..	..	..	..	..
Mining and quarrying	05-09	123.4	123.5	125.3	-1.5	0.1	-3.8	-1.2

Total transportable goods industries		88.0	87.5	86.9	-0.1	-0.6	2.0	0.0

Food products, Beverages and Tobacco Products	10-12	100.3	99.8	104.7	-1.4	-0.5	-7.4	-2.5
Manufacturing industries excluding Food Products		86.2	85.7	84.2	0.1	-0.6	4.1	0.6
Manufacturing industries excluding Food Products, Beverages and Tobacco Products		85.9	85.4	83.9	0.1	-0.6	4.0	0.5
Intermediate goods industries (except energy)		..	..	..	..	..	..	..
Capital goods industries		..	..	..	..	..	..	..
Durable consumer goods industries		..	..	..	..	..	..	..
Non-durable consumer goods industries		..	..	..	..	..	..	..

Manufacturing industries (home sales)²		110.6	110.6	113.5	-0.4	0.0	-3.7	2.5
Manufacturing industries (export sales)²		86.9	86.4	85.6	-0.1	-0.6	2.4	-0.2
Total manufacturing industries²		87.9	87.4	86.8	-0.1	-0.6	2.1	0.0
¹ Nace Rev. 2 Statistical classification of economic activities in the European Community.
² Excludes Mining and quarrying.
³ Annual average for 2023 relative to the annual average for 2022.
.. Data suppressed for confidentiality reasons

Open in Excel: Wholesale Price Index December 2023 Table 2 (XLS 14KB)

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Table 2A Contribution to changes in the Manufacturing Output Price Index, December 2023 (Table 2)

Annual Average Price Changes in Building & Construction Materials for 2023

Prices in some construction materials showed large changes during 2023. Some timber prices fell, with the 2023 average price for Rough Timber (including plain sawn) down 15.2% while Machined, Treated Engineered Timber decreased by 8.0% on 2022. Prices for some Steel Products increased while others shrank. The overall category Structural Steel & Reinforcing Metal was up by 3.8%. The All Materials Index increased by 6.3% on the 2022 average (See Table 3).

Table 3 Detailed Wholesale Price Indices (excluding VAT) for Building and Construction Materials

Table 3 Detailed Wholesale Price Indices (excluding VAT) for Building and Construction Materials
Base: Year 2015 as 100
Materials	Index			Monthly % Change		Annual % Change
	Nov 2023	Dec 2023	Year 2023	Nov 2023	Dec 2023	Dec 2023	Year¹ 2023
	Nov 2023	Dec 2023	Year 2023	Nov 2023	Dec 2023	Dec 2023	Year¹ 2023
Stone, sand and gravel	132.8	133.7	129.4	-0.6	0.7	8.4	9.6
Stone	132.5	132.7	129.0	0.2	0.2	9.4	10.9
Sand and gravel	134.2	138.6	131.8	-4.1	3.3	4.2	4.0
Cement	179.1	179.1	175.6	0.0	0.0	6.2	16.8
Ready mixed mortar and concrete	152.3	152.3	149.9	0.3	0.0	7.1	16.7
Concrete blocks and bricks	138.2	138.0	135.9	0.2	-0.1	6.5	13.3
Other concrete products including precast	130.4	130.4	130.1	0.0	0.0	1.2	5.1
Structural steel and reinforcing metal	180.6	181.0	192.2	-0.9	0.2	-8.5	3.8
Structural steel	209.6	209.7	217.2	0.0	0.0	2.8	19.1
Structural steel fabricated metal	219.2	219.2	226.2	0.0	0.0	5.5	24.8
Other Structural steel	131.8	132.9	144.1	0.0	0.8	-23.4	-24.7
Reinforcing metal	136.5	137.3	154.2	-3.1	0.6	-27.1	-18.7
Other steel products	132.1	132.1	130.7	0.0	0.0	12.0	13.9
Rough timber (including plain sawn)	143.8	144.8	149.4	-3.7	0.7	-6.3	-15.2
Rough timber (hardwood)	97.9	106.9	99.2	0.0	9.2	8.1	-18.4
Rough timber (softwood)	149.6	149.6	155.7	-4.0	0.0	-7.4	-14.9
Machined, treated engineered timber	143.2	143.2	153.8	0.0	0.0	-18.1	-8.0
Wooden windows and doors	139.7	139.7	140.0	0.0	0.0	-0.4	6.4
Other treated timber	148.1	148.1	170.9	0.0	0.0	-31.6	-18.6
Bituminous macadam, asphalt and bituminous emulsions	124.5	124.1	123.7	0.2	-0.3	1.8	7.8
Bituminous macadam and asphalt	124.6	124.1	123.5	0.4	-0.4	2.2	8.1
Bituminous emulsions	124.2	122.9	130.1	-5.4	-1.0	-9.4	1.4
Electrical fittings	139.4	139.4	138.7	-0.3	0.0	2.3	6.4
Lighting equipment	107.3	107.3	107.3	0.0	0.0	0.0	0.0
Protection & communication equipment	121.4	121.4	121.0	0.4	0.0	0.2	9.5
All other materials	134.9	134.6	135.0	-0.1	-0.2	0.6	6.8
Plumbing materials incl. sanitary ware	148.6	146.4	148.4	0.0	-1.5	0.2	10.8
HVAC (heating & ventilation equipment)	118.0	118.0	118.0	0.0	0.0	0.5	4.1
Insulating materials	122.2	122.2	126.0	-1.2	0.0	-6.2	0.7
Pipes and fittings	146.5	146.5	146.6	-0.1	0.0	-0.1	7.7
PVC pipes and fittings	166.7	166.7	166.2	-0.4	0.0	1.2	7.6
Copper pipes and fittings	140.0	140.0	140.3	0.0	0.0	-0.5	7.8
Plaster	204.3	206.4	205.4	-0.2	1.0	7.3	24.2
Paints, oils and varnishes	163.5	164.2	159.2	2.1	0.4	10.0	13.4
Glass	104.7	104.7	104.7	0.0	0.0	6.3	6.3
All other metal fittings	118.9	118.9	117.4	1.6	0.0	1.3	0.4
All other products	127.2	126.6	126.8	-0.2	-0.5	1.0	5.8
All materials	143.3	143.3	144.1	-0.3	0.0	0.3	6.3
¹ Annual average for 2023 relative to the annual average for 2022.

Open in Excel: Wholesale Price Index December 2023 Table 3 (XLS 12KB)

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For more information on the categories of products in Table 3 see Description of Products for Building and Construction.

Table 4 Capital Goods Price Indices (excluding VAT)

Annual Average Price Changes in Energy Products for 2023

There were large declines in wholesale electricity prices during 2023, with prices down 45.8% compared to the 2022 average. This comes after an increase of 66.5% during 2022. All other wholesale energy fuels also decreased in price, and the index for All Energy Products was down by 40.3% on 2022 (See Table 5).

Table 5 Wholesale Price Indices (excluding VAT) for Energy Products (i.e. Fuels purchased by Manufacturing Industry)

Annual Average Price Changes in Producer Prices for 2023

Overall prices received by Irish manufacturers showed no change in 2023 following on from an increase of 5.1% in 2022. The price index for goods sold on the home market increased by 2.5% in 2023, having risen by 8.5% in 2022. The price index for exported goods declined by 0.2% in 2023 following an increase of 4.9% in the previous year (See Table 6).

Producer prices were affected by a number of factors during 2023 including fluctuations in the Euro exchange rate and market supply and demand. The average exchange rate for the US dollar and Sterling are shown in Table 7 below. Other global factors including the war in Ukraine and COVID-19 also had a major effect on market supply and demand during the year.

Table 6 Annual average % change in Producer Price Indices for home, export and total sales, 2015-2023

Table 7 Annual average exchange rates 2015-2023

Food, Beverages & Tobacco

The overall index for the Food, Beverages & Tobacco sector decreased by 2.5% in 2023 compared with an increase of 8.4% in 2022. The index for Food Products decreased by 3.2% in 2023 while Beverages rose by 11.4%.

Within the Food sector, prices decreased for Dairy Products (-11.9%), Vegetable & Animal Oils & Fats (-7.1%), and Other Food Products (-4.3%). Prices increased for Fruit & Vegetables (+12.5%) and Fish & Fish Products (+9.7%) (See Table 8).

Table 8 Annual average % change in Producer Price Indices for Food, Beverages and Tobacco products, 2023

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Table 7 Annual average exchange rates, 2015 - 2023
Exchange rate	€ 2015	€ 2016	€ 2017	€ 2018	€ 2019	€ 2020	€ 2021	€ 2022	€ 2023
Pound Sterling	0.7257	0.8204	0.8761	0.8840	0.8758	0.8897	0.8596	0.8528	0.8698
US Dollar	1.1121	1.1066	1.1259	1.1822	1.1199	1.1422	1.1827	1.0530	1.0813
Source: European Central Bank

Wholesale Price Index December 2023