New figures from the Central Statistics Office show that the Agricultural Output Price Index - what farmers are paid for their produce - rose by 22.1% in the 12 months to October.
The CSO said the biggest output price increases in the 12 month period were seen in milk, with prices soaring by 46.6%. Sheep prices were up 18.2% while cattle prices rose by 12.5%.
Price decreases were recorded in vegetables, which eased by 1.9% while pig prices were down 1%.
Today's figures show that the Agricultural Input Price Index dropped by 6.9% over the same period.
The CSO said there were significant reductions in electricity prices, which fell by 16.1%, while feed prices eased by 9.8% and the price of fertilisers decreased by 9.8%. However Plant Protection Products rose by 4.8% in the 12 months to October.
The CSO also said that the Agricultural Output Price Index for October rose marginally by 0.6% when compared with September.
