(Alliance News) - Producer prices in Ireland surged last month, figures on Tuesday showed, though electricity prices fell markedly on a monthly basis.
According to the Central Statistics Office, Ireland's producer prices rose 8.0% in October, quickening from a 6.1% hike in September.
On a monthly basis, prices grew 2.0% in October from September. They had risen 1.4% in September from August.
However, wholesale electricity prices dropped sharply in October, the CSO noted.
Wholesale electricity prices fell 37% in yearly and 52% monthly.
"Electricity costs on the wholesale market are now lower than any time during the past 12 months," CSO analyst Jillian Delaney said.