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Agricultural output price down 9.2%, input price down 10.5%

The Agricultural Output Price Index was down 9.2 per cent in the 12 months to June 2023, according to the Central Statistics Office (CSO), while the Agricultural Input Price Index fell by 10.5 per cent over the same period.

Comparing June 2023 with June 2022, the most significant output price increases can be seen in cereal prices up 47.5 per cent; pig prices up 22.7 per cent; and egg prices up 16.8 per cent. However, milk price decreased by 28.3 per cent. 
Over the last 12 months, input price declines were recorded in fertiliser, down 43.4 per cent and motor fuel, down 30.7 per cent, while electricity prices went up by 34.6 per cent. The annual terms of trade rose by 1.4 per cent when compared with June 2022.
On a monthly basis, the Agricultural Output Price Index decreased by 2.4 per cent when compared with May 2023. The Agricultural Input Price Index for June 2023 was down by 4.3 per cent in comparison with May 2023. The monthly terms of trade increased by 2 per cent in June 2023 when compared with the previous month.