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Agricultural Price Indices April 2022

Agricultural input price index shows fertiliser prices up by 177.8% in the year to April 2022

Online ISSN: 2009-5163
CSO statistical publication, , 11am

Key Findings

  • Agricultural input price index up by 39.6% in the year from April 2021

  • Agricultural output price index up by 24% in the same period

  • The annual terms of trade was down 11.2% compared to April 2021

  • Input price increases can also be seen in energy prices which rose by 43% and in feed prices which are up 27.3% in the year.

  • On a monthly basis, the agricultural input price index was also up almost 5% in the same time period

  • The agricultural output price index was up just over 5% when compared with March 2022

  • The monthly terms of trade was up 0.3% in the month of April 2022

Statistician's Comment

The Central Statistics Office (CSO) has today (14 June 2022) released Agricultural Price Indices April 2022.

Commenting on the release, Anthony Dawson, Statistician, said: "Today's release details price indices for April 2022. The most significant change is in the price of fertilisers where the price index is up 16.1% in the month from March 2022 and has increased by 177.8% in the year from April 2021. This trend of input price increases is also seen in energy and feed prices which are up 43% and 27.3% respectively in the year.

Increases can also been seen in the output price sub-indices where the monthly price of milk has risen by 6.6% in the month from March 2022 and is up almost 40% in the year while cattle prices are up almost  21% annually.

More generally, the monthly agricultural output price indices is up 5.1% and input price indices is up by 4.8% in the month from March 2022 to April 2022. A more detailed look at the monthly output sub-indices shows increases in pig prices (+16.7%) and milk prices (+6.6%), while the monthly input sub-indices saw a growth in fertiliser prices (+16.1%) and feed prices (+5.3%). As a result,  the terms of trade for April 2022 was up by .3%.

Annually, the agricultural output prices index is up 24% while the input price index is up 39.6%. The resulting annual change in the terms of trade was down 11.2%."

Headline Table and Graph

Figure 1 shows the increase in both the Agricultural Input Price Index and the Agricultural Output Price index since 2019. It shows that from 2019 to the start of 2021 prices were relatively stable. However since January 2021 prices have been increasing with the largest increases in prices coming since the start of 2022.

Agricultural Price Indices - April 2022
 OutputInputTerms of Trade
 Base year 2015=100
April 2021113.8107.7105.6
March 2022134.2143.593.6
April 2022141.1150.493.8
Monthly % Change5.1%4.8%0.3%
Annual % Change24.0%39.6%-11.2%
Total outputsTotal inputs
Jan 2019104.101105.654
Feb 2019104.274105.649
Mar 2019103.945105.929
Apr 2019104.302106.033
May 2019107.743105.774
Jun 2019107.416105.489
Jul 2019102.366105.173
Aug 201997.619104.931
Sep 201999.458104.454
Oct 2019100.807104.264
Nov 2019101.401103.66
Dec 2019103.969103.481
Jan 2020105.565104.307
Feb 2020106.971102.954
Mar 2020103.906102.481
Apr 2020100.15101.965
May 2020102.35101.575
Jun 2020102.853101.768
Jul 2020104.228101.815
Aug 2020103.694101.728
Sep 2020105.292101.44
Oct 2020105.112101.709
Nov 2020104.791102.156
Dec 2020105.91102.424
Jan 2021106.502103.407
Feb 2021108.461104.843
Mar 2021111.102106.397
Apr 2021113.791107.715
May 2021116.124109.121
Jun 2021116.499110.247
Jul 2021115.991111.187
Aug 2021116.471111.983
Sep 2021119.413113.561
Oct 2021119.95117.724
Nov 2021119.87119.43
Dec 2021124.713123.849
Jan 2022125.729130.686
Feb 2022129.277134.483
Mar 2022134.221143.469
Apr2022141.087150.381
Table 1 Agricultural Output Price Index (excluding VAT)

Table 2 Agricultural Input Price Index (excluding VAT)

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