New figures from the Central Statistics Office show that the Agricultural Input Price Index fell by 6.5% in the 12 months to May, while the Agricultural Output Price Index fell by 4.7% over the same time.
The CSO said that on a monthly basis, the Agricultural Output Price Index increased marginally by 0.1% from April. Output prices are what farmers are paid for their produce.
Meanwhile, the Agricultural Input Price Index for May fell by 3.4% compared to the previous month.
The CSO noted that on an annual basis, the biggest output price increases were seen in cereal prices, which rose by 47.5%, while pig prices were up 32.3% and egg prices increased by 17.6%.
But milk prices dropped by 23.8% in April compared to the same month last year.
Input price decreases were recorded in fertiliser prices, which fell by 35.6% and motor fuel prices were down 25.3% on an annual basis.
But electricity prices increased by 34.6%, the CSO said, while plant protection products were up 13%, the price of seeds rose by 7.1% and veterinary expenses increased by 6.1%.
