Ag Web
Inflation set up shop in consumer’s homes during 2021, siphoning funds quietly out of the backdoor. In July, the Labor Department’s Consumer Price Index found costs for apples and milk rose 6% versus the past year. Meat prices were up nearly 11%.
Analysts say farmers can expect the same type of price increases and pressures for crop inputs in 2022.
“There’s an availability issue, which is going to continue into 2022,” says Samuel Taylor, executive director for RaboResearch.