Massive Food Inflation: Farm Prices Up 31% as Eggs, Meat, Vegetables, Chickens, Dairy, Corn, and Wheat Soar
The prices of U.S. farm products continued to rise in March, reflecting the inflationary pressures gripping the U.S. economy and fears that the war in Ukraine and sanctions and Russia could lead to food shortages around the globe.
The Department of Agriculture said Friday that its index of prices received by U.S. farmers increased 6.3 percent from February and 31 percent from March 2021. The index tracks prices paid by initial buyers from U.S. farms, the first step of the food production chain in the U.S.
The index that tracks the costs farmers pay for commodities, services, taxes, interest and wages rose 1.4 percent from February and 13 percent from March 2021.
Crop prices were up 5.6 percent from last month and 23 percent from the previous year. Livestock prices increased 6.7 percent from February and were up 39 percent compared with a year ago. – READ MORE
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