Agriculture: Inflation
(asked on 28th February 2024) - View Source
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, what estimate he has made on the average 12-month inflation rate in (a) agricultural outputs and (b) agricultural inputs in each year since 2010.
The table below provides the annual agricultural price indices for 2014 to 2023, along with the annual inflation rates for 2015 to 2023 (calculated as a year-on-year percentage increase from the annual indices). Annual inflation rates are only available from 2015 onwards on an equivalent basis, because it was only possible to backdate the indices to 2014 when the agricultural price index was rebased to 2020 in 2023.
Table: Annual inflation rate for all agricultural outputs and all agricultural inputs, 2015-2023.
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 (a) |
All agricultural outputs price index (base = 2020) | 95.1 | 86.5 | 85.4 | 94.5 | 97.4 | 96.5 | 100.0 | 109.9 | 130.6 | 132.4 |
All agricultural inputs price index (base = 2020) | 95.8 | 89.7 | 87.2 | 91.7 | 98.8 | 100.4 | 100.0 | 111.4 | 143.2 | 135.6 |
All agricultural outputs inflation rate |
| -9.1% | -1.3% | 10.7% | 3.0% | -0.9% | 3.6% | 9.9% | 18.9% | 1.4% |
All agricultural inputs inflation rate |
| -6.4% | -2.7% | 5.1% | 7.8% | 1.6% | -0.4% | 11.4% | 28.5% | -5.3% |
Source: Defra Agricultural Price Indices
Latest agricultural price indices - GOV.UK (www.gov.uk)
Notes:
(a) Values for 2023 are provisional
Data are only available from 2015 onwards on an equivalent basis, following re-basing of the agricultural price index to 2020 in 2023.