In the 12 months to July 2023, the Agricultural Output Price Index was down 12%, while the Agricultural Input Price Index fell by 11.5% over the same period.
The most significant Output price decreases in the 12 months to July 2023 were in milk (-34.7%), cattle (-2.5%), and sheep prices (-2.3%), while there were increases in cereals (+47.5%), potatoes (+17.1%), pigs (+16.5%), and egg prices (+14.2%).
Over the 12 months to July 2023, significant Input price drops were recorded in fertiliser (-44.2%) and motor fuel prices (-26.7%), while electricity prices were up by (+31.9%).
The annual terms of trade was down by 0.6% when compared with July 2022.
On a monthly basis, the Agricultural Output Price Index decreased by 3.5% when compared with June 2023.
The Agricultural Input Price Index for July 2023 was down by 1% in comparison with June 2023.
The monthly terms of trade decreased by 2.5% in July 2023 when compared with the previous month.
Figure 1 shows both the Agricultural Input Price Index and the Agricultural Output Price Index.
| Agricultural Price Indices - July 2023 | |||
| Output | Input | Terms of Trade | |
| Base year 2015=100 | |||
| July 2022 | 153.1 | 155.0 | 98.7 |
| June 2023 | 139.6 | 138.6 | 100.7 |
| July 2023 | 134.6 | 137.2 | 98.1 |
| Monthly % Change | -3.5% | -1.0% | -2.5% |
| Annual % Change | -12.0% | -11.5% | -0.6% |
Statistician's Comment
The Central Statistics Office (CSO) has today (11 September 2023) released Agricultural Price Indices July 2023.
Commenting on the release Donal Kelly, Senior Statistician in the Agriculture Division, said: "Today's release details Agricultural Price Indices for July 2023. On a monthly basis the Agricultural Output Price index was down 3.5%, while the Agricultural Input Price index fell by 1%, when compared with June 2023.
The most noticeable monthly changes in the Output Price sub-indices were in the price of milk which dropped by 5%, while cattle prices fell by 4.3% compared with June 2023. For the monthly Input Price sub-indices, decreases were recorded in fertiliser and feed prices, down 4% and 1.3% respectively, while motor fuel prices rose by 1.7%.
Analysing Output prices in the 12 months since July 2022, significant growth has been observed in cereal prices (+47.5%) and pig prices (+16.5%), while the milk price was down 34.7%.
Looking at Input prices over the last 12 months, there have been noteworthy increases in electricity prices (+31.9%) and plant protection product prices (+7.6%), while an overall drop was recorded in fertiliser prices (-44.2%) over the same period."