Farm Input Price Index, third quarter 2017
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Released: 2018-01-16
The Farm Input Price Index was down 0.5% in the third quarter.
This decrease was attributable to lower prices for animal production (-1.4%) due to a decline in prices for livestock purchases (-3.4%), specifically cattle (-5.0%). This was offset by higher prices for general business costs (+1.0%) and costs associated with buildings (+1.6%).
Machinery and motor vehicles (-1.0%) and crop production (-0.7%) contributed to the decrease of the index.
The index fell in six provinces in the third quarter. Alberta (-0.8%) and Saskatchewan (-1.0%) contributed most to the national decrease. The largest increase came from Newfoundland and Labrador (+0.7%).
Year over year, farm input prices were up 2.0% at the Canada level as a result of higher prices for animal production (+2.1%).
Compared with the third quarter of 2016, the index was up in nine provinces, with Ontario (+3.1%) contributing the most to the year-over-year increase.
Note to readers
The Farm Input Price Index is an indicator of the change in input costs faced by Canadian farmers. The indexes are not seasonally adjusted.
The indexes are 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 total (excluding the territories).
The Farm Input Price Index is subject to an eight-quarter revision period after dissemination of a given quarter's data.
Infographic: Producer Price Indexes at a Glance
The infographic, "Producer Price Indexes at a Glance," which is part of Statistics Canada — Infographics (11-627-M), is now available. This infographic demonstrates how producer price indexes for goods and services are calculated and why they are important for the Canadian economy.
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