Ireland's wholesale price inflation ebbs slightly to 3.6% in February

(Alliance News) - Wholesale price inflation in Ireland mostly stabilised in February, according to the Central Statics Office on Wednesday.

Wholesale price inflation eased slightly to 3.6% in February from January's reading of 3.7%, which had jumped from 2.5% in December.

Prices were flat month-on-month, compared to a 1.3% rise in January, which had reversed a 1.3% fall in December.

"'Wholesale price inflation showed signs of levelling off in February 2023 with no change to the overall producer price index for the manufacturing industries in the month," said CSO statistician Jillian Delaney.

"Producer prices for products sold on the domestic market are now 10.6% higher than they were in February 2022, with export producer prices rising by 3.1% and overall producer prices by 3.6% higher in the year," she explained.

Wholesale electricity prices fell 1.8% during the month, and were 9.2% lower than the previous year.

By Elizabeth Winter, Alliance News senior markets reporter

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