Farm Input Price Index

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The Farm Input Price Index rose 0.4% in the third quarter following a 1.5% increase in the second quarter.

Animal production (+2.2%) contributed the most to the quarterly movement of the index. This component has been the largest contributor to the price movement in five of the last seven quarters.

The increase in the cost of animal production was offset by decreases in general business costs (-1.6%) and machinery and motor vehicle costs (-1.1%).

Nationally, Alberta (+0.7%) and Quebec (+0.9%) contributed the most to the quarterly increase, but it was offset by a decrease in British Columbia (-1.8%).

In Alberta and Quebec, animal production contributed the most to the quarterly price increases. These increases were in large part the result of increases seen in livestock purchases.

Canadian farm input prices increased 9.9% between the third quarter of 2010 and the third quarter of 2011.

All components of the index showed an annual increase, with animal production (+14.7%), machinery and motor vehicles (+13.0%) and crop production (+9.0%) contributing the most.

Higher annual animal production costs were primarily the result of cattle costs rising 18.1% since the third quarter of 2010.

Year over year, the Farm Input Price Index increased in all regions across Canada. Alberta (+12.3%) and Ontario (+9.4%) contributed the most to the advance of the index.

Note: For more information about the methodology, go to the "Definitions, data sources and methods" section by clicking survey number 2305, which appears below.

Available on CANSIM: table 328-0015.

Definitions, data sources and methods: survey number 2305.

For more information, or to enquire about the concepts, methods or data quality of this release, contact Client Services (toll-free 1-888-951-4550; 613-951-4550; fax: 1-855-314-8765 or 613-951-3117; ppd-info-dpp@statcan.gc.ca), Producer Prices Division.