Wholesale electricity prices rose 47% month-on-month and 86% year-on-year in July, according to the Central Statistics Office (CSO).

Wholesale prices in construction continued to surged too, with the price of timber and other treated wooden products more than doubling year-on-year while the price of all wood products rose a third (+36.6%).

Construction materials categories such as basic metals (+27.9%) and non-metallic mineral products such as glass, ceramics, cement, concrete and stone (+22.3%) have significantly increased in the past year.

There were also notable annual increases in the price of structural steel (+46.7), pre-cast concrete (+33.5%), timber windows and doors (+29.7%), and both PVC (+29.2%) and copper (+26.8%) pipes and fittings.

"The all materials index for construction products rose by 3.8% in the month and 20.6% in the year," said Jillian Delaney, statistician in the CSO's price division.

In Association with

Overall, domestic producer prices for manufactured goods rose 9.5% from July 2021, and producer prices for exported goods increased 6%.

The price of food products rose 10,8% on an annual basis, and the food products, beverages and tobacco index was up 10.3%, driven by large increases in the price of dairy products (+52.9%), fish (+19.7%), grain milling, starches and animal feeds (+14.2%), and meat (+13.2%).

Delaney also pointed to a 9.5% increase in the price index for home sales, a 6% increase in the price index of export sales, with monthly increases in both indexes of 2.4%.

Eurostat announced eurozone inflation of 8.9% and annual inflation in Ireland of 9.6%, with rising energy and food prices accounting for nearly two-thirds of the increase.

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