The annual rate of price increases picked up from 27.2% in November. Farmgate prices have risen in the double digits every month since the start of the year.
Crop prices increased 38.6% in December, as grain prices jumped 54.8% and industrial crop prices climbed 40.5%. Vegetable prices rose 18.4%, potato prices were up 40.6%, but fruit prices edged down 0.3pc.
Farmgate prices for live animals and animal products increased 15.4%, as prices for live animals rose 17.5% and animal products prices climbed 11.6%. The price of live poultry rose 23.4%, hog prices rose 7.3%. The price of milk increased 10.7% and egg prices were up 10.2%.
In 2021 farmgate prices rose 19.3% as crop prices increased 27.7% and prices for live animals and animal products were up 4.1%.
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