|Output||Input||Terms of Trade|
|Base year 2015=100|
|Monthly % Change||2.2%||-0.4%||2.6%|
|Annual % Change||-5.0%||-4.0%||-1.0%|
Agricultural input price index down 4% in the year to May 2020
The agricultural output price index increases by 2.2% in May 2020 compared with April 2020. The agricultural input price index decreased by 0.4% over the same period. Thus, the resulting terms of trade index was up 2.6% in this period. See Tables 1, 2 and graph.
On an annual basis, the agricultural input price index decreased by 4% in May 2020 compared with May 2019. The agricultural output price index decreased by 5% May 2020 compared with May 2019. See Tables 1 and 2.
A further comparison of the May 2020 output sub-indices with the May 2019 sub-indices shows that sheep and pigs increased by 6.3% and 4.7% respectively.
On the input side, the May 2020 sub-indices show that energy and fertilisers were down 16% and 9.8% respectively on May 2019 prices. Show Table 1 Agricultural Output Price Index (excluding VAT) Show Table 2 Agricultural Input Price Index (excluding VAT) Show Background Notes