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Agricultural Input Price Index was up 36.9% in the 12 months from September 2021 while the Agricultural Output Price Index rose by 29.2% over the same period.
The annual terms of trade fell 5.6% when compared with September 2021.
Input price increases can be seen in fertiliser prices (+121.9%), energy prices (+40.1%), and feed prices (+33.4%) in the last 12 months.
On a monthly basis, the Agricultural Input Price Index increased marginally (+0.4%) when compared with August 2022.
The Agricultural Output Price Index was up by 1.4% in comparison with August 2022.
The monthly terms of trade increased by 1.0% when compared with August 2022.
Figure 1 shows the increase in both the Agricultural Input Price Index and the Agricultural Output Price Index since 2020. It shows that from 2020 to the start of 2021 prices were relatively stable. While prices started to rise from January 2021, the largest price increases have occurred since the start of 2022.
| Agricultural Price Indices - September 2022 | |||
| Output | Input | Terms of Trade | |
| Base year 2015=100 | |||
| September 2021 | 119.4 | 113.6 | 105.2 |
| August 2022 | 152.2 | 154.8 | 98.3 |
| September 2022 | 154.3 | 155.4 | 99.3 |
| Monthly % Change | 1.4% | 0.4% | 1.0% |
| Annual % Change | 29.2% | 36.9% | -5.6% |
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Statistician's Comment
The Central Statistics Office (CSO) has today (10 November 2022) released Agricultural Price Indices September 2022.
Commenting on the release, Dr Grzegorz Głaczyński, Statistician in the Agriculture Section of the CSO said:
"Today's release details the monthly and annual changes in the Agricultural Input and Output Price Indices for September 2022.
The Input and Output Price Indices have been rising steadily since the beginning of 2021, but since June 2022 the price indices are stabilising.
The overall Input Price Index increased marginally since August 2022 (+0.4%), while the underlying input sub-indices saw a small growth in energy (+0.8%) and fertiliser prices (+1.5%). On an annual basis compared to September 2021, input prices rose for fertiliser (+121.9%), energy (+40.1%), and feeding stuffs (+33.4%).
The Agricultural Output Price Index was up by 1.4% from August 2022 to September 2022. The output sub-indices show a monthly increase in pig prices (+2.4%). A marginal rise in milk prices (+0.3%), while a decrease was observed in cattle prices (-1.9%). Looking at the year since September 2021, the price of milk has risen by 48.8%, cereal prices have increased by 47.4%, and pig prices rose by 34.0%.
Annually, the agricultural input price index is up 36.9% while the output price index is up 29.2%, resulting in a decrease of 5.6% in the annual terms of trade."