The Hellenic Statistical Authority (ELSTAT), has reported a significant increase in the output price index for agricultural and livestock products for April 2024, highlighting a persistent trend of rising prices.
The output price index for agriculture and livestock, excluding subsidies, saw a significant rise of 15.7% in April 2024 compared to April 2023. This contrasts with the 9.8% increase recorded in April 2023 relative to April 2022.
The 15.7% surge in April 2024’s output price index is primarily attributed to a substantial 23.7% hike in the crop output group, driven mainly by the price increases in olive oil and fruits. Additionally, the animal output group experienced a modest rise of 1.3%.
Month-on-month, the output price index in April 2024 edged up by 0.4% from March 2024. The twelve-month weighted average output index from May 2023 to April 2024 climbed by 17.2% compared to the same period from May 2022 to April 2023.
Conversely, the input price index for agriculture and livestock fell by 1.8% in April 2024 compared to April 2023. This is a notable shift from April 2023, which saw a 4.6% increase from the previous year.
The 1.8% decrease in April 2024’s input price index is largely due to a 3.2% reduction in the price index for goods and services currently consumed in agriculture, particularly animal feeding stuffs.
However, this decline was partially offset by a 2.9% increase in the price index for goods and services contributing to agricultural investment.
