The Agricultural Price Index (API) is an index of the price of agricultural outputs and inputs for the UK used to track change over time. More details on the index, including how it is produced, are in the Background section at the end of this document. 1. Key points at September 2023 Outputs The price index for agricultural outputs decreased by 5.5% in the 12 months to September 2023. There were 10 upward contributions to the 12-month inflation rate for agricultural outputs recorded for September 2023. The largest upward contribution was potatoes (+1.6 percentage points), followed by poultry (+1.3 percentage points), and eggs (+1.1 percentage points). There were 6 downward contributions to the 12-month inflation rate for agricultural outputs recorded for September 2023. The largest downward contribution was milk (-6.4 percentage points), followed by wheat (-2.7 percentage points), and barley (-1.5 percentage points). The price index for agricultural outputs decreased by 1.3% in the month to September 2023. In comparison, the index decreased by 0.4% in the month to August 2023. Inputs In the 12 months to September 2023, the price index for agricultural inputs decreased by 12.1%. There were 5 upward contributions to the 12-month inflation rate for agricultural inputs recorded for September 2023. The largest upward contribution came from plant protection products (+0.6 percentage points), followed by other goods and services (+0.4 percentage points), and maintenance of materials (+0.4 percentage points). There were 7 downward contributions to the 12-month inflation rate for agricultural inputs recorded for September 2023. The largest downward contribution was fertilisers and soil improvers (-8.4 percentage points), followed by compound feedingstuffs (-2.9 percentage points), and straight feedingstuffs (-1.4 percentage points). The price index for agricultural inputs increased by 1.1% in the month to September 2023. In comparison, the index decreased by 0.3% in the […]
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