Energy prices increased by over 60% annually in June

Dairy farmers will be among the most affected by the rising energy costs, as milking parlours consume significant volumes of electricity.

Many farmers are facing challenges due to the substantial increases in input costs, with fertiliser prices up by 144.7% and feed prices rising by 32.2% on an annual basis.

Energy prices have risen by 60.2% on an annual basis to June 2022, according to statistics released by the Central Statistics Office (CSO) today.

Record rates of inflation, soaring energy prices and the ongoing war in Ukraine are driving up prices for farmers, with the agricultural input price index increasing by 40.2% in the year from June 2021.