In the 12 months to August 2024, the agricultural output price index increased by 18%, according to the Central Statistics Office (CSO).

This output price rose by 1% when compared with July 2024.

Meanwhile, the agricultural input price index dropped by 6.7% in the 12 months to August 2024.

On a monthly basis, the input price index for August decreased by 0.5% when compared with July 2024.

The most significant output price increases in the 12 months to August 2024 were in milk (+35.5%), potatoes (+16.2%) and sheep (+15.1%), while decreases were recorded in eggs (-3.7%) and poultry (-1.1%).

Input prices

Over the 12 months to August 2024, there were significant reductions in the input prices recorded for electricity (-20.6%), feed (-12.8%) and fertilisers (-9.0%), while plant protection products rose by 4.8%.

The monthly terms of trade grew by 1.5% in August 2024 when compared with the previous month. The annual terms of trade went up by 26.5% when compared with August 2023.