Dairy products saw a decline of 28.5% over the 12 months to February 2024, according to the latest figures from the Central Statistics Office (CSO).
Commenting on the release, Statistician in the Prices Division, Deirdre Toher said:
“Several other food categories showed notable changes, including ‘other food products’, which decreased by 9.4%, and grain milling, starches and animal feeds, which saw a fall of 6.8%.”
Producer prices for fish and fish products rose by 7% in the 12 months leading up to February 2024.
The food products, beverages and tobacco index also declined by 8.2% in the same period of time.
Overall, from February 2023 to February 2024, beverages increased in producer price by 11%.
In the month to February 2024, wholesale electricity prices fell by 15.3% and were 46.8% lower when compared to February 2023.
Energy products index was down by 10% from January 2024.
Domestic producer prices for manufactured goods were 3.3% lower in February 2024 when compared to 12 months earlier, while producer prices for exported goods rose by 3.7%.
Chemicals and chemical products rose by 22.2%. Rubber and plastic products also increased in price by 4.6%. Wood and wood products saw a decrease in price of 8% in the 12 months.
Overall, manufacturing producer prices were 3.3% higher in February 2024 when compared to February 2023.
The all materials index for construction products saw an increase of 0.1% in the month to February 2024, but the wholesale price was down by 0.7% from February 2023.
The building and construction was up by 0.1% in the month to February this year, and rose by 0.4% in the year from February 2023 to February 2024.
Toher said that the overall producer price index for the month of February 2024 saw an increase of 1.1% for manufacturing industries.
The price index for export sales was up by 1.0% since January 2024, while the index for home sales rose by 2.9% in the month.