Wholesale electricity prices have fallen compared to the same period last year, according to published figures.
Meanwhile, food producer costs fell by 3.4% and construction sector materials and wages increased by 4.9% in the same period.
Wholesale electricity prices, or what is paid for electricity from the Single Electricity Market grid, increased by 11.3% between May and June – but were 35.6% lower compared to June last year.
An increase or decrease in wholesale prices can be an indication of what consumer prices will be in the future.
According to the Wholesale Price Index, published by the Central Statistics Office on Friday, producer prices for manufactured goods sold domestically were an average of 3.9% higher in June compared with a year earlier.
Producer prices for exported goods fell by 0.8%, and overall producer prices were 0.6% lower in the year.
Producer prices for food products fell by 3.4% in the 12 months to June, while the food products, beverages and tobacco index was down by 2.5%.
Senior statistician in the prices division Edel Flannery said: “Wholesale price inflation showed a small increase in June 2023 with a rise of 0.5% to the overall producer price index for the manufacturing industries in the month.
“The price index for export sales also rose by 0.5% since May 2023, while the index for home sales fell by 0.7% in the month.
“Producer prices in the food products index dropped by 1.8% in the month to June 2023 and this overall index was 3.4% lower than in June 2022.
“Prices for some food products fell in the month, for example other food products (-3.5%) and dairy products (-2.1%).
“Prices for these products were also lower on an annual basis compared with June 2022, with other food products seeing a reduction of 4% in the year and dairy products down by 13.1%.
“Several other food categories were still significantly higher in June 2023 compared with the same month in 2022, including fruit and vegetables (16.3%), fish and fish products (13.2%) and baking and farinaceous products (3.8%).
“Wholesale electricity prices increased by 11.3% in the month to June 2023 but were 35.6% lower over the 12 months from June 2022.
“The All Materials Index for construction products remained unchanged in the month but increased by 6.5% in the year, while the building and construction (ie, materials and wages) index also remained unchanged in the month but was 4.9% higher than the same month last year.”
