Producer and input price indices fell by 0.34 per cent and 0.16 per cent respectively during the first quarter of 2007, according to National Statistics Office figures.

In the first quarter of 2007, the producer price index stood at 98.99, a drop of 0.33 points (–0.34 per cent) from 99.32 points in the first quarter of 2006.

Underpinning this result was a drop in the fresh vegetables price index (–9.78 per cent) due to falling prices of cauliflowers by 19.21 per cent and vegetable marrows by 55.77 per cent respectively. The fruit price index fell by 9.17 per cent due to drops in prices of fresh fruit, mainly strawberries.

On the other hand, agricultural producers received higher prices for potatoes (+20.86 per cent), slaughtered animals (+1.04 per cent) and animal products (+1.95 per cent).

Higher prices fetched for slaughtered bulls (+2.78 per cent) and cows (+1.90 per cent) were mainly behind the increase in the animals index. While no change in the price fetched for eggs was registered, the producer price for milk increased by 2.67 per cent over the first quarter in 2006.

The input price index for agriculture registered a slight decline of 0.16 per cent, from 108.27 points in the first quarter of 2006 to 108.11 points in the first quarter this year.

This was mainly due to a decrease in the index of goods and services consumed in agriculture by 0.17 per cent. The machinery and investment index rose by 0.79 per cent on an annual basis in the first quarter of 2007.