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The Agricultural Input Price Index is the index of the expenditure incurred by farmers in purchasing the means of agricultural production by agricultural producers. This includes the purchase of crop products from other agricultural units for intermediate consumption and excludes the purchase of animals.
The input prices used are those actually paid by farmers, excluding VAT. Monthly prices are used for most products. However for seasonal products such as seeds and plant protection products, the monthly prices returned during the last selling period remain unchanged until the product can be priced again. Some items such as veterinary fees and products are only priced annually and the annual price is used each month to calculate the monthly indices.
Further details on the sources used to compile the Agricultural Input Price Index can be found here: Input Price Index Data Sources
The overall annual Agricultural Input Price Indices are presented in Figure 4.1. Table 4.1 contain detailed annual indices from 2020. It shows that the Agricultural Input Price Index was down 7.0% in 2023 when compared with 2022.
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