Electricity prices in Ireland have risen sharply over the past year, according to the latest report from the Central Statistics Office (CSO). The data shows electricity prices increased by 21.9% in the 12 months to November, though this remains approximately 70% lower than the peak price increase recorded in August 2022.
Food prices have also climbed, rising 3% year-on-year to November, while showing a marginal 0.1% decrease compared to October. The price movements varied significantly across different food categories.
Dairy products experienced the steepest increase, rising 11.1% over the year. Meat and dairy products combined increased by 6.7%, while fish and fish products rose 5.1%. However, some categories saw price relief, with vegetables, animal oils and fats decreasing by 16.2% annually, and beverages dropping 5.1%.
Beyond food and energy, the CSO report revealed significant price movements in other sectors. Chemical and chemical products saw a substantial 30.8% price increase, while wholesale prices of construction products rose by a modest 1%.
The data highlights the continued pressure on Irish household budgets, particularly from energy costs, despite electricity prices remaining well below their 2022 peak. The mixed picture in food prices shows some categories offering relief to consumers while others continue to climb significantly.