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Agricultural Price Indices August 2023

Fertilisers Price Index down by 45.0% in the year to August 2023

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

Key Findings

  • In the 12 months to August 2023, the Agricultural Output Price Index was down 16.2%, while the Agricultural Input Price Index fell by 12.0% over the same period.

  • The most significant Output price decreases in the 12 months to August 2023 were in milk (-38.0%) and cattle (-4.6%), while there were increases in potatoes (+37.1%), eggs (+14.2%) and pig prices (+13.0%).

  • Over the 12 months to August 2023, significant Input price drops were recorded in fertiliser (-45.0%) and motor fuel prices (-12.9%), while electricity prices were up by 25.1%.

  • The annual terms of trade was down by 4.8% when compared with August 2022.

  • On a monthly basis, the Agricultural Output Price Index fell by 4.5% when compared with July 2023.

  • The Agricultural Input Price Index for August 2023 was down by 0.4% in comparison with July 2023.

  • The monthly terms of trade decreased by 4.0% in August 2023 when compared with the previous month.

Statistician's Comment

The Central Statistics Office (CSO) has today (12 October 2023) released Agricultural Price Indices August 2023.

Commenting on the release Dr Grzegorz Głaczyński, Statistician in the Agriculture Division, said: "Today's release details Agricultural Price Indices for August 2023. On a monthly basis the Agricultural Output Price index was down by 4.5%, while the Agricultural Input Price index fell by 0.4%, when compared with July 2023.

The most noticeable monthly decreases in the Output Price sub-indices were in the price of milk which dropped by 6.0%, and cattle prices by 4.0%, compared with July 2023. For the monthly Input Price sub-indices, a decline of 2.4% was recorded in feed prices, while motor fuel prices rose by 8.3%.

Analysing Output prices in the 12 months since August 2022, growth has been observed in potatoes (+37.1%), egg prices (+14.2%), and pigs (+13.0%), while the milk price was down by 38.0%.

Inspecting Input prices over the last 12 months, there have been noteworthy increases in electricity prices (+25.1%) and plant protection product prices (+7.6%), while an overall decrease was recorded in fertiliser prices (-45.0%) over the same period."

Headline Table and Graph

Figure 1 shows both the Agricultural Input Price Index and the Agricultural Output Price Index.

Agricultural Price Indices - August 2023
 OutputInputTerms of Trade
 Base year 2015=100
August 2022153.5155.298.9
July 2023134.6137.298.1
August 2023128.6136.694.2
Monthly % Change-4.5%-0.4%-4.0%
Annual % Change-16.2%-12.0%-4.8%
Figure 1 - Agricultural Input and Output Price Indices (Base 2015=100)
Table 1 Agricultural Output Price Index (excluding VAT)

Table 2 Agricultural Input Price Index (excluding VAT)

Table 1 and 2 have both been updated on 17 October 2023 due to an error detected in the Monthly Change heading, Aug-23/Aug-23 has been changed to Aug-23/Jul-23.