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Agricultural Price Indices June 2022

Agricultural input price index shows energy prices up by 60.2% in the year to June 2022

Online ISSN: 2009-5163

CSO statistical publication, 11 August 2022, 11am

Key Findings

Agricultural input price index up by 40.2% in the year from June 2021.
Agricultural output price index up by 29.8% in the same period.
The annual terms of trade was down 7.5% compared to June 2021.
Input price increases can be seen in fertiliser prices which are up 144.7%, energy prices which rose by 60.2% and in feed prices which are up 32.2% in the year.
On a monthly basis, the agricultural input price index was down 0.1% when compared with May 2022.
The agricultural output price index was up 1.7% in the same time period.
The monthly terms of trade was up 1.6% in the month of June 2022.

Statistician's Comment

The Central Statistics Office (CSO) has today (11 August 2022) released Agricultural Price Indices June 2022.

Commenting on the release, Anthony Dawson, Statistician, said: "Today's release details price indices for June 2022. The most notable change is in the price of energy, where the price index has increased by 7.6% since May 2022 and by 60.2% in the year from June 2021. This trend of input price increases is also seen in fertiliser and feed prices which are up 144.7% and 32.2% respectively in the year.

Increases can also be seen in the output price sub-indices where the price of milk has risen by 44.9% in the year, while cattle prices have increased by more than 27% annually.

More generally, the monthly agricultural output price index is up 1.7% and input price index is down by 0.1% in the month from May 2022 to June 2022. A more detailed look at the monthly output sub-indices shows increases in pig prices and cattle prices (+2.2%), while the monthly input sub-indices saw a growth in energy prices (+7.6%) but a reduction in the price of fertilisers (-6.3%). As a result, the terms of trade for June 2022 was up by 1.6%.

Annually, the Agricultural Input Prices Index is up 40.2% while the Output Price Index is up 29.8%. The resulting annual change in the terms of trade was down 7.5%."

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 - June 2022
	Output	Input	Terms of Trade
	Base year 2015=100
June 2021	116.5	110.2	105.7
May 2022	148.7	154.7	96.3
June 2022	151.2	154.6	97.8
Monthly % Change	1.7%	-0.1%	1.6%
Annual % Change	29.8%	40.2%	-7.5%

Open in Excel: API2022M06 Headline Table (XLS 9KB)

	Total outputs	Total inputs
Jan 2019	104.101	105.654
Feb 2019	104.274	105.649
Mar 2019	103.945	105.929
Apr 2019	104.302	106.033
May 2019	107.743	105.774
Jun 2019	107.416	105.489
Jul 2019	102.366	105.173
Aug 2019	97.619	104.931
Sep 2019	99.458	104.454
Oct 2019	100.807	104.264
Nov 2019	101.401	103.66
Dec 2019	103.969	103.481
Jan 2020	105.565	104.307
Feb 2020	106.971	102.954
Mar 2020	103.906	102.481
Apr 2020	100.15	101.965
May 2020	102.35	101.575
Jun 2020	102.853	101.768
Jul 2020	104.228	101.815
Aug 2020	103.694	101.728
Sep 2020	105.292	101.44
Oct 2020	105.112	101.709
Nov 2020	104.791	102.156
Dec 2020	105.91	102.424
Jan 2021	106.53	103.407
Feb 2021	108.489	104.843
Mar 2021	111.13	106.397
Apr 2021	113.783	107.715
May 2021	116.152	109.121
Jun 2021	116.527	110.247
Jul 2021	116.019	111.187
Aug 2021	116.499	111.983
Sep 2021	119.441	113.561
Oct 2021	119.978	117.724
Nov 2021	119.898	119.43
Dec 2021	124.741	123.849
Jan 2022	125.739	130.925
Feb 2022	129.287	134.722
Mar 2022	134.27	143.708
Apr2022	141.097	150.62
May 2022	148.729	154.732
Jun 2022	151.21	154.593

Table 1 Agricultural Output Price Index (excluding VAT)

Table 1 Agricultural Output Price Index (excluding VAT)
														Base Year 2015 = 100
Category	Index													Monthly Change	Annual Change
	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22	May-22	Jun-22	Jun-22 / May-22	Jun-22 / Jun -21
	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22	May-22	Jun-22	Jun-22 / May-22	Jun-22 / Jun -21
Agricultural Output Price Index	116.5	116.0	116.5	119.4	120.0	119.9	124.7	125.7	129.3	134.3¹	141.1	148.7	151.2	1.7%	29.8%

Crop Output	114.5	112.3	123.7	140.6	137.2	135.5	132.8	132.7	132.6	132.3	133.8	134.8	134.8	0.0%	17.7%
Cereals (including seeds)	115.3	115.3	154.5	154.5	154.5	154.5	154.5	154.5	154.5	154.5	154.5	154.5	154.5	0.0%	34.0%
Vegetables	108.3	108.1	109.0	108.9	111.0	111.0	104.5	103.4	103.3	102.4	106.1	109.3	109.3	..	0.9%
Potatoes (including seeds)	127.9	115.4	87.3	185.4	160.9	151.0	151.0	153.0	153.0	153.0	153.0	151.0	151.2	..	18.1%

Animal Output	116.8	116.5	115.6	116.7	117.7	117.9	123.7	124.8	128.9	134.5	142.1	150.6	153.4	1.9%	31.3%
Animals	110.9	110.7	108.5	108.4	107.8	107.7	110.0	109.7	111.9	117.3	122.9	130.8	134.8	3.1%	21.6%
Cattle	107.0	109.2	107.1	107.8	107.0	106.2	108.6	111.0	114.3	120.7	124.7	133.1	136.0	2.2%	27.1%
Cattle excluding calves	107.0	109.2	107.0	107.5	106.8	106.2	108.6	111.2	114.6	121.1	125.1	133.4	136.2	2.1%	27.2%
Calves	101.6	109.5	122.6	145.5	143.8	121.6	109.0	86.2	60.1	52.3	59.0	68.9	109.2	..	7.5%
Pigs	115.8	111.9	108.1	104.8	101.5	99.0	99.1	97.1	96.7	96.9	113.1	116.0¹	125.3	8.1%	8.2%
Sheep	142.8	129.3	126.4	126.7	130.9	142.2	147.5	125.2	124.0	134.1	136.2	154.3	159.9	..	12.0%
Poultry	100.3	99.2	101.0	100.3	101.0	101.2	103.9	104.4	104.9	105.2	106.0	106.8	107.3	0.4%	7.0%

Animal Products	125.7	125.2	126.2	129.1	132.7	133.1	144.3	147.7	154.5	160.5¹	170.9	180.4	181.3	0.5%	44.2%
Milk	126.8	126.3	127.4	130.3	134.1	134.4	146.0¹	149.4	156.4	162.6¹	173.2	182.8	183.7	0.5%	44.9%
Eggs	104.4	104.6	104.6	104.6	105.1	105.6	107.4	110.5	110.5	110.5	116.3	122.1	123.0	0.7%	17.8%
Wool	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.6	13.5	13.5	0.0%	-0.5%
.. Comparison not valid as different basket of products are included each month.
¹ Revised

Open in Excel: API2022M06 Table 1 (XLS 13KB)

Table 2 Agricultural Input Price Index (excluding VAT)

Table 2 Agricultural Input Price Index (excluding VAT)
													Base Year 2015 = 100
Category	Index													Monthly Change	Annual Change
	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22	May-22	Jun-22	Jun-22 / May-22	Jun-22 / Jun-21
	Jun-21	Jul-21	Aug-21	Sep-21	Oct-21	Nov-21	Dec-21	Jan-22	Feb-22	Mar-22	Apr-22	May-22	Jun-22	Jun-22 / May-22	Jun-22 / Jun-21
Agricultural Input Price Index	110.2	111.2	112.0	113.6	117.7	119.4	123.8	130.9	134.7	143.7	150.6	154.7	154.6	-0.1%	40.2%

Seeds	110.5	110.5	110.5	110.5	112.6	112.6	112.6	112.6	112.6	124.3	124.3	124.3	124.3	0.0%	12.5%

Energy	109.9	113.2	115.1	116.5	125.0	128.8	127.4	128.9	134.0	163.3	152.5	163.7	176.1	7.6%	60.2%
Electricity	113.3	115.1	122.9	124.6	127.0	133.1	134.7	134.7	134.7	134.7	144.9	159.8	159.8	0.0%	41.0%
Motor Fuels	108.9	112.7	112.7	114.1	124.9	128.3	125.8	127.9	134.9	174.8	156.9	167.3	184.3	10.2%	69.2%
Lubricants	108.7	110.2	111.0	112.6	112.6	112.6	112.3	111.8	111.3	113.8	112.6	113.3	114.0	0.6%	4.9%

Fertilisers	95.1	96.9	100.2	104.3	120.8	123.2	147.7	179.9	193.4	216.0	250.8	248.6	232.8	-6.3%	144.7%
Straight Fertilisers	95.1	97.0	100.0	102.7	122.7	127.0	159.8	200.8	218.8	247.2	293.7	291.8	267.8	-8.2%	181.6%
Compound Fertilisers	94.5	96.2	100.0	104.7	120.1	121.5	142.7	171.9	183.5	204.1	234.2	230.9	219.0	-5.2%	131.7%
PK Fertilisers	96.9	97.5	104.1	108.1	120.5	124.8	137.2	160.9	179.1	205.0	218.9	222.3	217.9	-2.0%	124.9%
NPK Fertilisers	94.5	96.2	99.9	104.6	120.1	121.4	142.8	172.1	183.6	204.1	234.6	231.2	219.0	-5.3%	131.9%
Other Fertilisers	105.7	105.7	105.7	114.3	114.3	114.3	114.3	114.3	114.3	114.3	114.3	127.1	127.1	0.0%	20.3%

Plant Protection Products	105.1	105.3	105.3	105.3	105.3	105.3	105.3	105.3	105.3	129.7	130.2	130.2	130.2	0.0%	23.9%

Veterinary Expenses	110.3	110.3	110.3	110.3	110.3	110.3	110.3	113.4	113.4	113.4	113.4	113.4	113.4	0.0%	2.8%

Feeding Stuffs	119.3	120.2	120.3	122.4	124.1	126.1	128.4	132.6	135.7	139.9	147.3	155.5	157.7	1.4%	32.2%
Straight Feeding Stuffs	126.5	127.0	127.4	129.9	133.3	138.2	141.9	145.6	149.0	163.7	174.7	184.8	184.3	-0.3%	45.6%
Compound Feeding Stuffs	118.9	119.8	119.9	122.0	123.6	125.5	127.8	132.0	135.0	138.7	145.9	154.0	156.4	1.5%	31.5%
Feeding Stuffs for Calves	117.5	120.7	120.8	122.7	124.4	126.1	127.2	131.5	134.5	139.2	148.7	154.5	158.1	2.3%	34.6%
Feeding Stuffs for Cattle excl. Calves	118.9	119.9	120.0	122.8	124.8	126.7	130.0	134.2	137.6	140.9	149.9	156.7	159.7	2.0%	34.3%
Feeding Stuffs for Pigs	125.6	126.6	126.6	129.2	130.5	134.6	136.0	140.4	144.2	150.4	153.2	159.8	162.0	1.4%	29.0%
Feeding Stuffs for Poultry	113.0	113.0	113.1	112.5	112.9	112.9	113.2	117.0	118.2	120.1	125.3	139.9	140.4	0.3%	24.3%
Other Compound Feeding Stuffs	116.9	117.8	117.8	121.0	123.3	124.3	127.1	132.0	135.4	138.3	148.1	155.9	157.0	0.7%	34.3%

Maintenance of Materials and Buildings	107.1	107.1	107.6	107.9	107.9	108.7	108.8	108.8	109.7	109.8	109.9	110.9	111.1	0.1%	3.7%
Other Goods and Services	106.5	106.4	106.2	106.2	106.8	107.4	107.6	109.8	109.6	110.0	111.5	111.8	111.8	-0.0%	5.0%

Open in Excel: API2022M06 Table 2 (XLS 14KB)

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Agricultural Price Indices June 2022