Latest rebase of Agricultural Price Indices using base year 2020 launched.
New items such as Industrial & Forage Plants and additional fertilisers added to set of Agricultural Price Indices.
A full list of changes to the Agricultural Price Indices Series and the weights applied can be found in the Methodological Background Notes Rebase 2020 = 100.
A presentation video on the changes are also available.
| Giselle Myles | (+353) 21 453 4090 |
|---|---|
| Nele van der Wielen | (+353) 21 453 5379 |
| AgPrices@cso.ie |
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Statistician's Comment
The Central Statistics Office (CSO) has today (16 May 2024) released Agricultural Price Indices March 2024. Today’s release introduces the new, rebased series of the Agricultural Price Indices, which uses the year 2020 as its reference point, and for which all indices are set at 100. Agricultural Price Indices are usually rebased every five years in line with EU best practice. The replaced series used the year 2015 as its reference point.
Agricultural Price Indices comprise of:
Commenting on the rebase, Dr Nele van der Wielen, Statistician in the Agriculture Division, said: “Today's release presents Agricultural Price Indices for March 2024. This publication introduces the new series of agricultural output and input price indices with the base year 2020 as 100. The rebasing of both series is in line with EU recommendations to update the base reference periods at regular five-year intervals. The Agricultural Price Indices can be split into output and input price indices meaning that the indices reflect both what farmers receive for their products, output prices like cattle, and what they spend, input prices, like animal feed. In 2020, the CSO added Industrial and Forage Plants as well as additional fertilisers into the Agricultural Price Indices.”