The Agricultural Price Index (API) is a set of indices of the prices paid and received by UK farmers for agricultural goods and services. You can find the detailed information here: Latest agricultural price indices - GOV.UK (www.gov.uk)
Key points for January 2024
Outputs
The price index for agricultural outputs decreased by 5.6% in the 12 months to January 2024.
There were 8 upward contributions to the 12-month inflation rate for agricultural outputs recorded for January 2024. The largest upward contribution was potatoes (+1.9 percentage points)
The price index for agricultural outputs increased by 0.6% in the month to January 2024. In comparison, the index increased by 0.6% in the month to December 2023.
Inputs
In the 12 months to January 2024, the price index for agricultural inputs decreased by 11.3%.
There were 6 upward contributions to the 12-month inflation rate for agricultural inputs recorded for January 2024. The largest upward contribution came from maintenance of materials (+0.4 percentage points), followed by plant protection products (+0.2 percentage points), and buildings (+0.1 percentage points).
There were 6 downward contributions to the 12-month inflation rate for agricultural inputs recorded for January 2024. The largest downward contribution was fertilisers and soil improvers (-5.8 percentage points), followed by compound feedingstuffs (-3.8 percentage points), and energy and lubricants (-1.6 percentage points).
The price index for agricultural inputs increased by 0.9% in the month to January 2024. In comparison, the index decreased by 0.4% in the month to December 2023.