Agricultural Price Indices

EU Agricultural Price Indices (2015=100)

The EU Agricultural Price Indices (output and input) comprise:

• the index of producer prices of agricultural products (output), which measures trends in producer prices of crop and animal products, and
• the index of purchase prices of the means of agricultural production (input), which provides information on the price trends of goods and services currently consumed in agriculture as well as of goods and services contributing to agriculture investments.

Based on provisional data for the year 2021 the index of producer prices of agricultural products (output) was at 117.9, which means an increase of 8.8% in relation to the previous year.

The index of producer prices of crop production increased by 16.2% (influence: +6.5 percent points) in relation to the previous year. In the same timespan the index of producer prices of animal production increased by 3.8% (influence: +2.3 percent points).

The index of prices of means of agricultural production (input), at 111.9, increased by 7.0% in relation to the previous year based on provisional data.

The price index of goods and services currently consumed in agriculture was 8.6% higher than in the previous year (influence: +5.5 percent points). In the same timespan the price index of goods and services contributing to agricultural investment for materials increased by 4.0% (influence: +1.5 percent points).

National Agricultural Price Indices (2015=100)

Based on provisional data for the year 2021 the price index of agricultural and forestry products including public funds for agriculture and forestry, at 114.5, increased by 7.8% in relation to the previous year.

Information

The Agricultural Price Indices are calculated on the basis of the Laspeyres formula which stipulates that the weighting scheme of the basis year remains unchanged until a new basis year is chosen. The current indices are based on the year 2015=100.

For long-term comparison, continuing time series can be derived by linking current indices, based on 2015=100, with former index data.

Quarterly and annual indices are calculated. Because of the seasonal weighting scheme the comparison between quarterly price indices can be made only between the corresponding quarters of different years.

The influence of an index position to the total index change is calculated, in simply terms, by multiplying the changing rate of a position with the appropriate weight of this position.

National API output indices are provisional until final output prices are published at the 3rd quarter in the following year and then they are revised backwards.

EU API output indices are revised continuously. This can result in different quarterly data for national and EU API.

Indices of input positions are revised continuously.

From 2016 onwards Statistics Austria is responsible for the calculation of agricultural price indices (EU and national definition) for Austria. The Federal Institute of Agricultural Economics is responsible for providing input data which has to be requested from companies.