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The Cost of Farming in The U.S. Up Versus Last Month
WASHINGTON - Dec 28/07 - SNS -- The December Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 162% of the 1990-92 average, reveals the current USDA statistics.
The index is up 1 point (0.6%) from November and 13 points (8.7%) above December 2006. This is a record high for the index. Higher prices in December for complete feeds, feed grains, nitrogen fertilizer, and feed concentrates offset lower prices for feeder cattle, diesel fuel, gasoline, and LP gas.
The December Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 162 (1990-92=100), is up 0.6% from November 2007 and 8.7% from December 2006.
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