Abstract
Measures of agricultural incomes, and of the industry's productivity, are often derived by combining measures of the aggregate values and volumes of the industry's outputs and inputs. Combinations of price indices are less common but some have been published by Eurostat and are described in this paper. They are of two basic forms, one indicating the net effect of changes in output prices and input prices on the industry's value added and the other indicating changes in the industry's terms of trade. The paper examines the role, construction and interpretation of these measures and offers some cautions about their interpretation in the context of CAP reform.
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