Wholesale food prices at lowest levels in nearly two years

Producer prices for food products are down 8.8% in the year to November. 

Wholesale electricity and food prices dropped significantly during November compared to the same month last year bringing down the overall rate of inflation, new data from the Central Statistics Office (CSO) shows.

Last month, annual inflation hit 3.9% — dropping below 5% for the first time in over two years. In the year to November, wholesale electricity prices dropped by 14.1% while producer prices for food products dropped 8.8%.