Agricultural input prices rose 7.7% year-on-year in March compared to annual output price inflation of 8.1%, Central Statistics Office (CSO) figures show.

Pig prices (+52.2%), cereal prices (+47.5%), egg prices (+30%), and poultry prices (+16.4%) were the biggest risers in terms output over the previous 12 months.

Feed (+21.2%), seeds (+7.1%), plant protection products and veterinary expenses (+6.1%) saw the largest price growth among inputs in the year to March while energy prices fell 4.7%, although electricity prices rose 62.7% year-on-year.

The annual terms of trade rose 0.3% when compared to March 2022. On a monthly basis, output prices fell 3.8% and inputs were down 1.3%, but monthly terms of trade fell 2.5% from February.

"The significant monthly changes in the output price sub-indices were recorded in the price of milk which fell by 11.7%, while pig prices increased by 9.2%. The monthly Input Price sub-indices show a decline of 5.9% in fertiliser prices," said Dr Grzegorz Głaxzyński, statistician in the agriculture division of the CSO.

The CSO this week said that annual inflation in consumer prices slowed to 7.2% in April from 7.7% in March.

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