Wholesale electricity prices surged 93% in a year

Wholesale electricity prices almost doubled in the past year, new data from the Central Statistics Office showed, as the war between US and Iran pushed energy costs higher.

But prices remain below the peak recorded in the wake of Russia’s war against Ukraine, falling by 53 per cent from August 2022.

On a monthly basis, wholesale electricity prices rose almost 7 per cent in September, with energy fuels up almost 11 per cent compared with August.

The cost of energy fuels has risen almost 47.6 per cent year on year compared with September 2025.

Domestic producer prices have also risen, with costs for manufactured goods rising by an average of 2.4 per cent last month compared with September 2025, while producer prices for exported goods rose 8.1 per cent. Manufacturing producer prices in general were 7.4 per cent higher year on year.

Food product prices were up 1.2 per cent over the year, with the wider food products, beverages and tobacco index rising 1.1 per cent. Among the biggest changes were in the fish and fish products sector, where prices rose 9.6 per cent, while meat and meat products fell by 9.4 per cent.

Wholesale prices for chemical products saw a 16.5 per cent increase in prices, while electrical equipment prices were up 6.1 per cent. Construction product prices rose 0.9 per cent rose by 3.8 per cent in the 12 months since September 2025.

“Wholesale price inflation showed an increase in September 2026 with a 0.5 per cent growth in the overall producer price index for manufacturing industries in the month,” said Deirdre Toher, statistician in the prices division.

“The price index for export sales was up by 0.5 per cent since August 2026, while the index for home sales was unchanged in the month.”