Official figures released by the Central Statistics Office show that Irish wholesale prices increased sharply in July 2026, driven primarily by a steep rise in wholesale electricity rates and chemical production costs.
The Wholesale Price Index for July 2026 revealed a 3.2% monthly increase in the overall Producer Price Index for manufacturing industries. On an annual basis, factory gate prices rose by 7.3% compared to July 2025, marking a noticeable reacceleration in wholesale price inflation across key sectors of the economy.
Sharp Monthly Spike in Wholesale Electricity and Energy Fuels
The most significant driver of the July inflation rebound was the energy sector. Wholesale electricity prices jumped by 14.8% in a single month compared to June 2026. Compared to the same month last year, wholesale electricity costs were 56.2% higher. However, statisticians noted that despite this recent spike, wholesale power prices remain 59.9% below the extreme historic peaks logged during the energy crisis in August 2022.
Broader energy fuel prices recorded a modest 0.6% monthly increase, but over the 12 months to July 2026, energy fuels were up 19.1%. When taking all energy products into account, wholesale energy costs rose 11.1% in July alone and sat 45.6% higher than July 2025 levels.
Export Prices Drive Industrial Growth While Domestic Costs Rise Steadily
According to CSO data, prices for exported manufactured goods rose 3.6% month-on-month and were up 7.6% over the year. Products sold on the domestic market experienced a more moderate monthly rise of 0.8%, though domestic producer prices remained 4.5% higher than in July 2025.
Across manufacturing categories, chemical and chemical products recorded the highest annual price increase, climbing 16.5% over the 12-month period. Other noteworthy annual increases included non-metallic mineral products (+6.4%), electrical equipment (+6.2%), basic metals (+5.6%), fabricated metal products (+4.8%), and paper products (+4.2%).
Food Producer Prices and Construction Inputs
Food producer prices edged down slightly by 0.2% between June and July 2026, but stayed 2.7% higher than in July 2025. The combined index for food products, beverages, and tobacco rose 2.4% over the year. Within the food sector, fish and fish products saw the largest annual price increase at 9.0%, followed by other miscellaneous food items at 6.7%.
In the construction sector, overall material prices fell by 0.1% over the month, but recorded a 3.3% increase compared to July 2025. Major annual increases were reported for bituminous macadam and asphalt (+15.2%), reinforcing metal (+10.6%), paints and varnishes (+9.2%), ready-mixed concrete (+7.5%), and PVC pipes (+5.4%). Cement prices stood out as an exception, declining by 5.3% over the year. The overall Building and Construction Index, which combines material costs and sector wages, remained unchanged over the month and stood 3.4% higher year-on-year.
