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How inflation impacted farmers in 2022

Duane Mann plants soybeans on his Marshall county farm. (Photo by Dustin Hoffmann, IARN)

Inflation has had an impact on everyone in 2022 and farmers are no exception. Federal interest rates have climbed, and agricultural inputs costs are sky high also.

As 2022 winds down and farmers are taking note of expenses, there are some areas that are noticeably over budget. Thomas Eatherly, Pinion Ag Business Advisor, says inflation has severely impacted farmers this year.

Interest rates, crop inputs, and equipment repairs are all areas that came in over budget.

Eatherly has some tips for farmers to help protect themselves from inflation next year.

Unfortunately for farmers and producers, inflation rates are expected to stay high in the immediate future.

To learn more, visit www.pinionglobal.com