Wholesale electricity prices saw a monthly decrease but are still higher than in 2021

Overall, wholesale prices for goods used in manufacturing increased at an annual rate of just over 7% May.

The wholesale price of electricity used by manufacturing dropped 34% in May compared with April, but is still 48% higher than prices in May 2021.

Latest figures from the CSO showed wholesale energy products prices decreased by 28% compared to April 2022, mainly driven by the decrease in wholesale electricity prices.