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Farm Input Price Index, fourth quarter 2016

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Released: 2017-05-16

The Farm Input Price Index decreased 0.2% in the fourth quarter of 2016. The decline was attributable to lower prices for animal production (-2.1%), specifically livestock purchases (-6.4%).

Cattle prices (-5.0%) have been declining since the third quarter of 2015, partly due to an increase in cattle supply in North America.

Machinery and motor vehicles (+1.9%), buildings (+1.8%) and general business costs (+0.5%) partially offset the index decline, while crop production prices were unchanged.

The index decreased in three provinces. Alberta (-1.5%) and Manitoba (-1.3%) contributed the most to the national decrease.

Year over year, farm input prices fell 4.2% at the Canada level. The drop was mainly attributable to lower prices for animal production (-11.6%) and crop production (-3.7%).

Compared to the fourth quarter of 2015, the index was down in all provinces. Alberta (-9.2%) contributed the most to the year-over-year decline.



  Note to readers

The Farm Input Price Index is subject to an eight-quarter revision period after dissemination of a given quarter's data.

The Farm Input Price Index is an indicator of the change in input costs faced by Canadian farmers. The index is not seasonally adjusted.

The index is available for 13 geographic areas: each of the 10 provinces, Eastern Canada (Newfoundland and Labrador, Prince Edward Island, Nova Scotia, New Brunswick, Quebec and Ontario), Western Canada (Manitoba, Saskatchewan, Alberta and British Columbia), and Canada as a whole (excluding the territories).

With the release of the fourth quarter of 2016, the methodology to estimate certain components of the index has changed, the weights have been updated with the most recent data on farm operating expenses and the reference year has been changed to 2012=100.

Infographic: Producer Price Indexes at a Glance

The infographic, "Producer Price Indexes at a Glance," which is part of Statistics Canada — Infographics (Catalogue number11-627-M), demonstrates how producer price indexes for goods and services are calculated and why they are important for the Canadian economy.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).

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