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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, , 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
 OutputInputTerms of Trade
 Base year 2015=100
June 2021116.5110.2105.7
May 2022148.7154.796.3
June 2022151.2154.697.8
Monthly % Change1.7%-0.1%1.6%
Annual % Change29.8%40.2%-7.5%
Total outputsTotal inputs
Jan 2019104.101105.654
Feb 2019104.274105.649
Mar 2019103.945105.929
Apr 2019104.302106.033
May 2019107.743105.774
Jun 2019107.416105.489
Jul 2019102.366105.173
Aug 201997.619104.931
Sep 201999.458104.454
Oct 2019100.807104.264
Nov 2019101.401103.66
Dec 2019103.969103.481
Jan 2020105.565104.307
Feb 2020106.971102.954
Mar 2020103.906102.481
Apr 2020100.15101.965
May 2020102.35101.575
Jun 2020102.853101.768
Jul 2020104.228101.815
Aug 2020103.694101.728
Sep 2020105.292101.44
Oct 2020105.112101.709
Nov 2020104.791102.156
Dec 2020105.91102.424
Jan 2021106.53103.407
Feb 2021108.489104.843
Mar 2021111.13106.397
Apr 2021113.783107.715
May 2021116.152109.121
Jun 2021116.527110.247
Jul 2021116.019111.187
Aug 2021116.499111.983
Sep 2021119.441113.561
Oct 2021119.978117.724
Nov 2021119.898119.43
Dec 2021124.741123.849
Jan 2022125.739130.925
Feb 2022129.287134.722
Mar 2022134.27143.708
May 2022148.729154.732
Jun 2022151.21154.593
Table 1 Agricultural Output Price Index (excluding VAT)

Table 2 Agricultural Input Price Index (excluding VAT)