Wholesale electricity prices have dropped by more than 75 per cent since their peak in 2022, according to the Central Statistics Office (CSO).
The agency’s latest barometer on wholesale prices here show electricity prices fell by 4 per cent on an annual basis in August and were down by 75.1 per cent when compared with the peak that occurred in August 2022 in the wake of Russia’s invasion of Ukraine.
Wholesale electricity prices rose by 195 per cent between August 2021 and August 2022, peaking at almost €400 per MWh (megawatt hour) versus an average of about €38 per MWh in 2020.
While wholesale prices have softened considerably since, retail prices for consumers remain elevated.
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Bord Gáis Energy and Energia both announced price increases for consumers here earlier this month citing increased network charges while Electric Ireland, the largest supplier, held prices steady.
The CSO’s figures showed producer prices for food products increased by 4.4 per cent in the 12 months to August 2025, while the food products, beverages and tobacco index was up by 3.5 per cent.
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Some of the most notable changes in producer prices for food products over the 12 months to August were: dairy products (+11.1 per cent), meat and meat products (+7.3 per cent), and vegetables and animal oils and fats (-16.2 per cent).
While headline inflation for consumers has moderated significantly in recent months – primarily on the back of falling energy prices – food price inflation remains strong.
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Food prices in Ireland for consumers are rising at two-and-a-half times the rate of overall inflation – 5 per cent versus 2 per cent.
The acceleration in food prices is being driven by higher agricultural output prices which are a reflection of higher energy and fertiliser prices.
