The annual rate of price increases slowed from 31% in December. Farmgate prices have risen in the double digits every month since the start of 2021.
Crop prices increased 32.6% in January, as grain prices jumped 47.6% and industrial crop prices climbed 50.3%. Vegetable prices rose 2.1%, potato prices were up 30.8%, but fruit prices fell 7.7%.
Farmgate prices for live animals and animal products increased 23%, as prices for live animals rose 22.1% and animal products prices climbed 24.5%. The price of live poultry rose 32.1%, hog prices rose 10.5%. The price of milk increased 19.2% and egg prices were up 9.8%.
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