The agricultural output price index rose by 0.5% in October compared with September while the input price index fell by 1.4% over the same period, thus the resulting terms of trade index increased by 2.0% in the tenth month of last year.
The agricultural input price index was 4.5% higher in 2012 compared with 2011. The agricultural output price index increased by 3.8% over the same period. As a result, the terms of trade index decreased by 0.7% in 2012. We are expecting a reversal of this trend in 2013.
<b><i> As regards November, we are looking for input prices to be down 0.8% and output prices to be up 0.2% when the CSO releases the agricultural price indices for the eleventh month of 2013 later this morning.
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