The agricultural output price index decreased by 0.4% in July 2021 compared with June 2021, while the agricultural input price index increased by 0.9% over the same period, according to data released by the Central Statistics Office (CSO) this morning.
On an annual basis, the agricultural input price index increased by 9.2% in July 2021 compared with July 2020.
The agricultural output price index increased by 11.3% in July 2021 compared with July 2020.
A further comparison of the July 2021 output sub-indices with the July 2020 sub-indices shows that cattle and milk increased by 15.4% and 14.6%, respectively, according to the CSO.
Similarly, comparison of the July 2021 with the June 2021 output sub-indices, shows that sheep increased by 14.1%, while pigs and poultry decreased by 3.6% and 0.1% respectively.
Other animal products such as eggs and wool increased by 5% and 13.7%, respectively.
On the input side, the July 2021 sub-indices show that fertilisers and motor fuels were up 20.6% and 20.3% respectively, on July 2020 prices.
Electricity was up 11.3%, lubricants were up 6.1%, while plant-protection products were up 1.1%.
On the veterinary expenses side, prices were up 1.2%, while seeds and feeding stuffs were up 9.4% and 11%, respectively.
Measuring trends
The indices monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services.
An EU-harmonised methodology is used to compile these price indices.
The estimates are also sent to Eurostat, the Statistical Office of the European Union.