inflation

The Agriculture Department is expecting at home food prices this year to increase by 1.2%, which is a slight increase from the 1% that USDA economists had expected.  USDA economist Meghan Schweitzer says prices for a couple of key food categories have been higher than expected, inching that rate up.   “...

A new survey finds consumers expect to pay more for groceries this year.  Progressive Grocer reports the 2023 KPMG Winter Consumer Pulse Survey shows consumers anticipate increased prices, but are looking for ways to save money.  The Survey shows consumers expect a 15% increase in grocery spending this year.  Meanwhi...

The price of eggs is projected to fall dramatically after reaching record-high levels over several months.  The USDA said those prices should fall back to typical levels this year, provided the U.S. doesn’t see a rebound in highly pathogenic avian influenza cases in 2023.  The Bureau of...

Farm real estate values increased considerably in 2022 but showed signs of softening during the final months of the year as interest rates rose sharply.  Interest rates on farm loans jumped to decade highs alongside increases in the federal funds rate.    ...

Russia’s invasion of Ukraine, which started just over a year ago, has impacted food security and increased food inflation, according to U.S. National Security Council Spokesperson John Kirby.   “Putin has weaponized food. He's weaponized...

American agricultural exports in fiscal year 2023 are projected at $184.5 billion, down $5.5 billion from the November forecast.  The export forecasts for all major commodity groups are down, with the largest drops projected for corn, sorghum, and soybeans.  Corn ex...

With so many question marks for Northwest growers this upcoming season, it’s important producers control what they can.  Andrew Eddie, President of the Washington state Hay Growers Association says interest rates, trade, international conflict, and of course weather are all out of control of the growers; but one thing you can control is relationships.  He noted a go...

Growth in farm real estate values remained strong but showed some signs of easing alongside higher interest rates.  The Kansas City Federal Reserve says the average interest rates on farm loans increased from record lows at the beginning of last year to decade highs by December of 2022.  De...

After earning record high incomes last year, even while dealing with an 11% hike in production expenses, the nation's farmers this year could see another increase in those expenses.  ERS head Spiro Stefanou said they expect a more modest increase of as much as 4% this year.  He adde...

A month ago, USDA economists were forecasting grocery store food prices would rise in 2023 by about 3.5%-4.5%, a significant drop from the 11%+ we saw last year.  But now instead of 4%, " is forecasting an 8% increase in prices.”   USDA...