Irish dairy products 50% more expensive in 2022 compared to year prior - CSO

The price of Irish dairy products has risen by almost 50% in one year. 

According to June 2022's Wholesale Price Index report from the Central Statistics Office (CSO), the cost of buying dairy products rose by 49.1% in comparison to the same period in 2021. 

It is by far the largest increase among all wholesale goods, with a 14.5% increase in the price of meat and meat products, 11.7% increase in grain milling, starches and animal feeds, and 9.9% in food products, beverages and tobacco products. 

Commenting on the release, Jillian Delaney, Statistician in the Prices Division, said, "Prices in several food categories produced by Irish manufacturers were significantly higher in June 2022 compared to the same month last year. 

"The Producer Price Index for the Manufacturing sector was 6.2% higher in June 2022 than in the same month in 2021. Products sold on the domestic market increased by 8.0%, while exported products were 6.0% more expensive.

"In the month, prices charged for Irish manufactured products on the domestic market increased by 0.6%. Manufactured products for export decreased in price by 0.1% on May 2022, while the total producer price index for manufacturing was also down 0.1%." 

According to Ms Delaney, outputs from Irish manufacturers increased in price across several other categories including wood and wood products (38.1%), basic metals (33%) and other non-metallic mineral products such as glass, ceramics, cement and concrete (23.2%). 

Mining & Quarrying prices also had a large annual increase of 23.7%. 

Ms Delaney also commented on the astronomical increase in the price of wholesale electricity in June 2022, noting it is now 91.3% higher than the same month last year.  

She said, "There was an increase in the price of Wholesale Electricity in June 2022, with prices 26.9% higher than in May 2022.

"Coming on top of other price rises in the last year, the wholesale price of electricity is now 91.3% higher than in June 2021. The overall Energy Products Index followed these trends, going up by 22.8% since May 2022, and by 80.8% when compared to June 2021."