Indices monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services
The Agricultural Output Price Index – often seen as a proxy for food prices – fell by 12 per cent in the year to July. Photograph: Christof Stache/Getty ImagesFarm input and output prices – key drivers of food price inflation – both fell significantly in the year to July, new data from the Central Statistics Office shows.
The indices monitor trends in prices paid to farmers for their produce and in prices paid by farmers for purchases of goods and services. Both sets of figures feed into the wider picture of rapidly increasing prices across the economy. The Agricultural Output Price Index – often seen as a proxy for food prices – fell by 12 per cent in the year to July. Meanwhile, the input index – the prices paid by farmers for purchases of goods and service – was down by 11.5 per cent.
The most significant output price decreases in the year were in milk , cattle , and sheep prices , while there were increases in cereals , potatoes , pigs and egg prices .
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