Ireland's Wholesale Prices Return to Inflation

Wholesale prices in Ireland rose by 2.1% year-on-year in November 2024, reversing a 1.7% drop in October and ending a three-month period of deflation.

Prices increased at a faster pace for mining and quarrying (3.4% vs 1.1% in October) and for food products, beverages, and tobacco (2.5% vs 0.5%).

Additionally costs rebounded sharply for transportable goods (2.2% vs -1.8%) and manufacturing excluding food (2.1% vss -2.1%).

On a monthly basis, wholesale prices rose by 1.9%, the largest increase since August 2023, accelerating from a 1.6% rise in October.