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

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.

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