ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock

The Hellenic Statistical Authority has announced an increase in the output price index for agricultural and livestock products for May 2024, indicating a continuing trend of rising prices.

The Output Price Index for Agriculture and Livestock, excluding subsidies, rose by 6.3% in May 2024 compared to May 2023. This follows a 20.8% increase in May 2023 compared to May 2022.

The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.

In May 2024, the Output Price Index decreased by 5.3% compared to April 2024. The twelve-month weighted average output index from June 2023 to May 2024 saw a 16.0% increase compared to the period from June 2022 to May 2023.

Meanwhile, the Input Price Index for Agriculture and Livestock decreased by 1.2% in May 2024 compared to May 2023, after recording a 2.1% increase in May 2023 from the previous year.

This decrease is due to a 2.4% reduction in the price index for goods and services currently consumed in agriculture, especially animal feed, and a 2.5% increase in the price index for goods and services contributing to agricultural investment.

The Input Price Index for May 2024 also saw a slight decrease of 0.4% compared to April 2024. The twelve-month average input index from June 2023 to May 2024 decreased by 1.2% compared to the period from June 2022 to May 2023.

Source: tovima.com