|Output||Input||Terms of Trade|
|Base year 2015=100|
|Monthly % Change||-0.9%||0.1%||-0.9%|
|Annual % Change||-3.6%||5.7%||-8.8%|
The agricultural output price index decreased by 0.9% in January 2019 compared with December 2018. The agricultural input price index was up 0.1% over the same period. Thus, the resulting terms of trade index decreased by 0.9% in January 2019. See Tables 1, 2 and graph.
A further comparison of the January 2019 output sub-indices with the January 2018 sub-indices shows that the largest decreases were in milk and cattle which were down 11.5% and 8.5% respectively.
On the input side, the biggest increases were in feeding stuffs and fertilisers which were up 11.3% and 9.4% respectively on January 2018 prices.
On an annual basis, the agricultural input price index increased by 5.7% in January 2019 compared with January 2018. The agricultural output price index was down 3.6% in January 2019 compared with January 2018. See Tables 1 and 2.