Ireland’s wholesale price index showed a slight improvement in November and swung to growth from the previous year’s decline, the country’s Central Statistics Office reported on Monday.

The wholesale price index rose 1.9% in November to 109.7 points from 107.7 points in October, showing growth accelerating from the 1.6% monthly rise in October.

On an annual basis, the wholesale price index rose 2.1% from November 2023, compared with a 1.7% decline for October.

Wholesale electricity prices rose 18.2% on-month in November, and by 18.9% annually. However, the CSO said they remained 62% lower than their ‘peak’ in August 2022.

Domestic producer prices for manufactured goods rose 1.2% annually on average, while those for exported goods rose 2.3%.

‘Overall, manufacturing producer prices were 2.1% higher in the year,’ the CSO added.

The Food Products, Beverages & Tobacco index rose 2.5%, with producer prices for food products rising 3.0% on-year.

Wholesale prices for construction products edged down 0.1% on-month, but rose 0.9% annually.

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