KSH: the growth rate of agricultural purchase prices slowed to 27 percent by February

By: STA Date: 2023. 04. 17. 09:30

In February, agricultural purchase prices were 27.0 percent higher than a year earlier, the rate of price increase was 4.6 percentage points slower than in January and slowed down by 34.0 percent compared to the peak of 61.0 percent in September, according to the Central Statistical Office ( KSH) from the latest data.

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In February, the average price level of plant growing and horticultural products was 16.5 percent higher than a year earlier, which shows a moderate increase of 6.2 percentage points compared to January and slowed down by 36.5 percentage points compared to the peak of July last year. The purchase price of live animals adjusted back by 1.2 percentage points after slowing down by 11.3 percentage points in January, but the annual increase of 55.6 percent is still 13.6 percentage points lower than the peak in September.

The evolution of the price of plant products in February was varied

While the price increase of potatoes and fruits was 7.7 and 9.4 percentage points higher than in January, the price increase of cereals decreased by 8.7, that of vegetables and 8.4, and that of industrial plants by 7.7 percentage points compared to the previous month. In February, the purchase price of potatoes was thus 57.3, and that of fruits was on average 19.5 percent higher than a year earlier. The 22.3 percent annual increase in grain prices in February is 60.0 percentage points slower than the peak in September, the price of vegetables is still 30.2 percent higher, while the purchase price of industrial plants is already 6.6 percent lower on average than last February, according to KSH data.

MTI