Wholesale prices in Ireland fell by 5.3% year-on-year in November, the largest drop since July 2023.

In November, wholesale prices in Ireland fell by 5.3% year-on-year, a further deepening from the 3.5% decline in October, marking the largest year-on-year drop since July 2023. The accelerated decline was mainly driven by a significant decrease of 6.0% in export producer prices and a notable decrease of 16.0% in wholesale electricity prices. Overall manufacturing prices also fell by 5.3%, while mining and quarrying prices dropped by 2.6%. Partially offsetting the downward trend, food producer prices rose by 3.0%, led by dairy products, meat, and fish; while chemical prices surged by 30.8%. Construction product prices increased by 1.0%, with the construction and engineering index rising by 2.0%. Looking at monthly data, wholesale prices remained unchanged compared to the previous month, which saw an increase of 0.7%.