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High fuel prices & inflation affecting Rural Mainstreet Index

Photo courtesy of the U.S. Department of Agriculture's National Agricultural Library

This economy is wrapping its tentacles around every facet of our lives. It affects everybody differently, but it affects everybody, urban and rural alike. The latest Rural Mainstreet Index was just released from Creighton University, and the numbers aren’t much to write home about.

The Index ranges from zero to 100, and positive growth is a number of 50 or above. The June Index is in negative territory for the first time in some time. Dr. Ernie Goss is co-creator of the Rural Mainstreet Index and gives us an update.

Ag bankers are predicting a recession in the rural economy. It isn’t just a select handful of these bankers; it is an overwhelming majority.

The main culprit for the dive in the economy, according to the Index is high fuel prices.

The good news is that Rural America is still poised to see strong incomes for farms in 2022.