The Agricultural Output Price Index was down 9.2% in the 12 months to June 2023. The Agricultural Input Price Index fell by 10.5% over the same period.
Comparing June 2023 with June 2022, the most significant output price increases can be seen in cereal prices (+47.5%), pig prices (+22.7%) and egg prices (+16.8%), while the milk price decreased by 28.3%.
Over the last 12 months, Input price declines were recorded in fertiliser prices (-43.4%) and motor fuel prices (-30.7%), while electricity prices went up by (+34.6%).
The annual terms of trade rose by 1.4% when compared with June 2022.
On a monthly basis, the Agricultural Output Price Index decreased by 2.4% when compared with May 2023.
The Agricultural Input Price Index for June 2023 was down by 4.3% in comparison with May 2023.
The monthly terms of trade increased by 2.0% in June 2023 when compared with the previous month.
Figure 1 shows both the Agricultural Input Price Index and the Agricultural Output Price Index.
| Agricultural Price Indices - June 2023 | |||
| Output | Input | Terms of Trade | |
| Base year 2015=100 | |||
| June 2022 | 153.7 | 155.0 | 99.2 |
| May 2023 | 143.0 | 145.0 | 98.6 |
| June 2023 | 139.6 | 138.8 | 100.6 |
| Monthly % Change | -2.4% | -4.3% | 2.0% |
| Annual % Change | -9.2% | -10.5% | 1.4% |
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Statistician's Comment
The Central Statistics Office (CSO) has today (14 August 2023) released Agricultural Price Indices June 2023.
Commenting on the release Dr Grzegorz Głaczyński, Statistician in the Agriculture Division, said: "Today's release details Agricultural Price Indices for June 2023. On a monthly basis the Agricultural Output Price index decreased by 2.4%, while the Agricultural Input Price index fell by 4.3%, when compared with May 2023.
The most noticeable monthly changes in the Output Price sub-indices were recorded in the price of cattle which dropped by 3.9%, while the milk price declined by 3.7%. The monthly Input Price sub-indices receded by 17.6% in fertiliser prices and 3.7% in feeding stuffs, while energy rose by 1.3%.
Analysing Output prices in the 12 months since June 2022, significant growth has been observed in cereal prices (+47.5%) and pigs (+22.7%), while milk prices decreased by 28.3%.
Inspecting Input prices over the last 12 months, there have been noteworthy increases in electricity prices (+34.6%) and plant protection products (+13.0%), while an overall drop was recorded in fertilisers (-43.4%) over the same period."