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Wholesale Price Index October 2024

Wholesale Price Index October 2024

Wholesale electricity prices rose by almost 10% in the month to October 2024

Online ISSN: 2009-5198
CSO statistical publication, , 11am

Key Findings

  • Wholesale electricity prices rose by 9.6% in the month to October 2024 but were 1.5% lower than October 2023. They were 68.1% lower than the peak that occurred in August 2022.

  • Domestic producer prices for manufactured goods were on average 1.0% higher in October 2024 when compared with a year earlier, while producer prices for exported goods were down by 2.0%. Overall, manufacturing producer prices were 1.7% lower in the year.

  • Producer prices for food products increased by 1.1% in the 12 months to October 2024, while the Food Products, Beverages & Tobacco Index was up by 0.5%.

  • Some of the most notable changes in producer prices for food products over the 12 months to October 2024 were: Dairy Products (+9.8%), and Grain Milling, Starches & Animal Feeds (-4.0%).

  • The most notable changes in other producer prices in the year to October 2024 were: Wearing Apparel (3.0%) Chemicals & Chemical Products (-13.8%), and Rubber & Plastic Products (-3.4%).

  • Wholesale prices for construction products were unchanged in the month to October 2024 and rose by 0.8% in the 12 months since October 2023.

Statistician's Comment

The Central Statistics Office (CSO) has today (28 November 2024) released the Wholesale Price Index (WPI) for October 2024.

Commenting on the release, Deirdre Toher, Statistician in the Prices Division, said:

“Wholesale price inflation showed an increase in October 2024 with a 1.6% growth in the overall Producer Price Index for manufacturing industries in the month. The price index for export sales was up by 1.7% since September 2024, while the index for home sales was up by 0.2% in the month. Producer prices for products sold on the domestic market were 1.0% higher in October 2024 compared with October 2023. In the year to October 2024, export producer prices fell by 2.0% while overall producer prices were down by 1.7%.

Electricity Prices

Wholesale electricity prices rose by 9.6% in October 2024 when compared with September 2024, and were 1.5% lower than October 2023. They have fallen by 68.1% when compared with the peak that occurred in August 2022.

Construction Products

The All Materials Index for construction products was unchanged in October 2024 and increased by 0.8% in the year since October 2023, while the Building & Construction Index (i.e. Materials and Wages) was also unchanged in the month and was 2.0% higher than the same month last year (See Tables 3 and 4)."

Editor's Note

Under EU legislation, the CSO is required to conduct a rebase of the Wholesale Price Index (WPI) series to 2021=100. That rebase has now be applied to this October 2024 WPI release published on 28 November 2024. As part of the rebase process, the CSO also reviewed the WPI methodology and the contents of the WPI release to best meet user needs. For further information on the rebase and the associated changes to the various series included in this WPI release please see the Introduction of Updated PPI/WPI Series (Base year 2021=100) document which was also published today. 

In order to maximise the number of published subindices in Table 2 (Industrial Producer Prices Indices) of the WPI release, the CSO has discontinued the publication of Table 2A (Contribution to changes in the Manufacturing Output Price Index).

Headline Table and Graph

Wholesale Price Index- October 2024
 Price index (Year ‘21=100)% monthly change% annual change
Aug 2024106.8-0.6%-0.1%
Sep 2024106.0-0.7%-2.6%
Oct 2024107.71.6%-1.7%
Open in Excel: Wholesale Price Index October 2024 Headline Table (XLS 10KB)
Output Price Index
Jan 20225.3
Feb 20223.5
Mar 20226.4
Apr 20227.9
May 202211.9
Jun 202212
Jul 202212.4
Aug 202210.8
Sep 202212.6
Oct 202213.6
Nov 20227.1
Dec 20224.5
Jan 20234.9
Feb 20235.5
Mar 20233.5
Apr 2023-0.8
May 2023-2.5
Jun 2023-2.4
Jul 2023-6.9
Aug 2023-3.9
Sep 2023-3.5
Oct 2023-5
Nov 2023-2.3
Dec 2023-1.2
Jan 2024-0.1
Feb 20241.6
Mar 2024-0.1
Apr 20243.3
May 20240.9
Jun 20241.5
Jul 20242.6
Aug 2024-0.1
Sep 2024-2.6
Oct 2024-1.7
HomeExport
Jan 202197.397.8
Feb 202198.599.2
Mar 202198.799.2
Apr 202198.998.8
May 202199.498.1
Jun 202199.698.2
Jul 2021100.4100.1
Aug 2021100.6100.4
Sep 2021100.7100.2
Oct 2021101.3101.7
Nov 2021101.5102.7
Dec 2021102.9103.6
Jan 2022103.4103.2
Feb 2022104.7102.5
Mar 2022106.1105.4
Apr 2022108.7106.4
May 2022109.5110
Jun 2022110.2110.1
Jul 2022112.1112.5
Aug 2022113111
Sep 2022115.1112.6
Oct 2022115.4115.4
Nov 2022115.1109.4
Dec 2022115.1107.5
Jan 2023116.3107.5
Feb 2023116.4107.5
Mar 2023115.7108.5
Apr 2023115.6104.8
May 2023115.5106.2
Jun 2023115.4106.7
Jul 2023113.9103.8
Aug 2023114.2106.2
Sep 2023114.5108.3
Oct 2023114.5109.1
Nov 2023114.2106.7
Dec 2023114.5106.1
Jan 2024115.1107.6
Feb 2024115.2109.5
Mar 2024114.8108.4
Apr 2024115.2108.7
May 2024115.3107.4
Jun 2024115.5108.5
Jul 2024115.5106.6
Aug 2024115.4105.9
Sep 2024115.4105.1
Oct 2024115.6106.9

Wholesale prices for construction products increased by 0.8% over the 12 months to October 2024

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

  • Sand & Gravel: 8.0%
  • Other Structural Steel: 7.9%
  • Cement: 7.8%
  • Reinforcing Metal: -12.7%
  • Bituminous Emulsions: -8.7%
  • Rough Timber (Softwood): -5.6%

The Building & Construction Index (i.e. Materials and Wages) remained constant in the month to October 2024 and rose by 2.0% in the 12 months to October 2024. 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 1.5% annually

There was an increase of 9.6% in the price of wholesale electricity in October 2024. The price of electricity was 1.5% lower than in October 2023 and was 68.1% lower when compared with the peak that occurred in August 2022.

The price index for all energy fuels dropped by 4.4% in October 2024 and fell by 12.1% in the year since October 2023.

The overall Energy Products Index was up by 5.8% since September 2024 but was 4.4% lower when compared with October 2023 (See Figure 3 and Table 5).

Wholesale Price Index - Electricity
Jan 202157.8
Feb 202142.5
Mar 202153.8
Apr 202163.1
May 202171.4
Jun 202170.1
Jul 2021105.8
Aug 202197
Sep 2021144.3
Oct 2021158.4
Nov 2021151
Dec 2021184.8
Jan 2022148.6
Feb 2022129.3
Mar 2022216.4
Apr 2022161.1
May 2022105.7
Jun 2022134.2
Jul 2022197.2
Aug 2022286
Sep 2022209
Oct 2022100.4
Nov 2022105.6
Dec 2022204.1
Jan 2023119.7
Feb 2023117.5
Mar 2023107.2
Apr 202392.7
May 202377.6
Jun 202386.4
Jul 202371
Aug 202378.6
Sep 202382.4
Oct 202392.6
Nov 202390.7
Dec 202365.7
Jan 202473.7
Feb 202462.4
Mar 202464
Apr 202465.3
May 202479.5
Jun 202479.5
Jul 202481.9
Aug 202474.1
Sep 202483.2
Oct 202491.2
Table 1 Manufacturing Industries Output Price Indices (excluding VAT)

Table 2 Industrial Producer Price Indices (excluding VAT)

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

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)

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

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