Ireland producer prices rise in October but electricity prices tumble

(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.