|Output||Input||Terms of Trade|
|Base year 2015=100|
|Monthly % Change||-0.9%||-0.1%||-0.8%|
|Annual % Change||5.8%||-3.0%||9.1%|
The agricultural output price index decreased by 0.9% in August 2020 compared with July 2020. The agricultural input price index decreased by 0.1% over the same period. Thus, the resulting terms of trade index was down 0.8% in this period. See Tables 1, 2 and graph.
On an annual basis, the agricultural input price index decreased by 3% in August 2020 compared with August 2019. The agricultural output price index increased by 5.8% in August 2020 compared with August 2019. See Tables 1 and 2.
A further comparison of the August 2020 output sub-indices with the August 2019 sub-indices shows that sheep and cattle increased by 12.8% and 11.7% respectively.
On the input side, the August 2020 sub-indices show that fertilisers and energy were down 11.8% and 9.3% respectively on August 2019 prices.