Wholesale electricity prices have dropped by over 70% from their peak

'Despite the huge drop over the past 12 months, wholesale electricity prices this August were still around 250% above what would until recently have been considered normal levels', expert says

Despite the wholesale electricity prices increasing by 10.6% in August compared to July, prices are still 72.5% lower when compared to the same period last year. Picture: Denis Minihane

Wholesale electricity prices have fallen by over 70% in August since they peaked 12 months ago but the cost of certain foods such as fruit and vegetables continues to grow, new data from the Central Statistics Office (CSO) shows.

According to the data, despite the wholesale electricity prices increasing by 10.6% in August compared to July, prices are still 72.5% lower when compared to the same period last year.