Baseline Update for U.S. Farm Income and Consumer Food Prices
September 16, 2024
FAPRI-MU Report #05-24: U.S. net farm income has declined sharply from its 2022 peak, primarily because of lower prices for many farm commodities. Based on information available in August 2024, FAPRI projects a further decline in net farm income in 2025. Consumer food price inflation has slowed, to a projected 2.2% in 2024 and 1.6% in 2025.
The Excel tables are available here.