Prices for dairy products rose by almost 53% this year - CSO

Amy Blaney

Producer prices for dairy products rose by almost 53 per cent in the year to July 2022, according to the latest figures released by the Central Statistics Office (CSO).

Domestic producer prices for manufactured goods were on average 9.5 per cent higher in July 2022 compared with a year earlier, while producer prices for exported goods increased by 6 per cent.

Wholesale electricity prices rose by 86.3 per cent annually and 47.0 per cent since June 2022.

While producer prices for food products rose by 10.8 per cent in the year to July, and the Food Products, Beverages & Tobacco index saw an increase of 10.3 per cent.

Some of the most notable changes in producer prices for food products in the year were dairy products, which rose by 52.9 per cent, and fish products which rose by 19.7 per cent.

Other foods such as grain milling, starches, and animal Feeds rose by 14.2 per cent and meat products increased by 13.2 per cent.

The most notable changes in other producer prices in the year were wood products which were up 36.6 per cent, basic metals, up 27.9 per cent, other non-metallic mineral products (such as glass, ceramics, cement, concrete and stone) which were up 22.3 per cent, and mining and quarrying, up 16.4 per cent.

Wholesale prices for construction products rose by 3.8 per cent in the month and 20.6 per cent in the year.

Jillian Delaney, Statistician in the Prices Division, said: “Wholesale and producer prices continued to rise in most categories in July 2022. Producer prices in several food categories were significantly higher in July 2022 compared with the same month last year.

“Outputs from Irish manufacturers also increased in price in several other categories.

“Monthly manufacturing factory gate prices increased by 2.4 per cent in July 2022, the same increase for July of last year. The annual percentage change rose by 6.2 per cent in July 2022, the same increase in the year to June 2022.

“In the year there was a rise of 9.5 per cent in respect of the price index for home sales, and an increase of 6.0 per cent in the price index for export sales, which can be influenced by currency fluctuations. In the month, the price index for export sales was up 2.4 per cent, while the index for home sales was also up by 2.4 per cent.”