Output Price Index

In first quarter of 2006, the producer price index stood at 100.21, a fall of 4.52 points (-4.32 per cent) from last year’s 104.73. This was mainly due to fluctuations in the average price of fresh fruit and vegetables, the National Statistics Office reported yesterday.

On average, vegetables prices fell by 22.34 points (-16.41 per cent), from 136.11 points in the first quarter of 2005 to 113.77 points in the same quarter in 2006. A decrease in the average price of dry onions (-59.42 per cent), cabbages (-51.19 per cent) and tomatoes (-42.5 per cent) were responsible for this fall.

Fresh fruit did not follow the same pattern, as this registered an increase of 21.93 points (+78.98 per cent), from 27.77 points in the first quarter of 2005 to 49.71 points in the corresponding period this year. An increase of 7.66 and 92.46 per cent in the average price of lemons and oranges was responsible for this increase.

In the first quarter this year, the producer price of potatoes stood at 116.35 points. This was an increase of 14.6 points (+14.35 per cent) from the 101.75 points that was recorded in the corresponding period last year.

The producer price index for slaughtered animals registered a slight increase of 0.46 points (+0.45 per cent), due to an increase in the average price of bulls (+8.73 per cent) and cows (+18.85 per cent).

While no increase in the producer price for eggs was recorded, the producer price index for milk declined by 10.50 per cent, from 106.11 points in the first quarter of 2005 to 94.97 points in the corresponding period of 2006.

In the first quarter, the producer price inflation rate stood at -1.13 per cent.

Input Price Index

The Input Index increased by 3.61 points (+3.42 per cent), from 105.42 points in the first quarter of 2005 to 109.03 points in the first quarter of 2006. This was due to higher average prices for the goods and services and machinery and investment used in the production of agricultural products.

The goods and services index increased by 3.64 points (+3.45 per cent), from 105.53 points in the first quarter of 2005 to 109.17 points in the first quarter of 2006. The increase in the index was mainly due to increases in the average price of motor fuels (+15.89 per cent) and veterinary expenses (+5.89 per cent). The machinery and investment index registered an increase of 1.73 points (+1.77 per cent), from 97.42 points in the first quarter of 2005 to 99.15 points in the same quarter this year.

In the first quarter of 2006, the input price inflation rate stood at 0.83 per cent.