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Farming Costs in the U.S. Up Versus Last Month
WASHINGTON - Jan 31/08 - SNS -- The January Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 168% of the 1990-92 average, judging from today's USDA data.
The index is up 3 points (1.8%) from December and 13 points (8.4%) above January 2007. This is a record high for the index. Higher prices in January for cash rent, taxes, and other farm services more than offset the decline in diesel fuel, feeder cattle, and hay & forages.
The January Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 168 (1990-92=100), is up 1.8% from December 2007 and up 8.4% from January 2007.
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