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Purdue agricultural economists spotlight inflation and pandemic-related uncertainties in annual outlook

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Purdue agricultural economists spotlight inflation and pandemic-related uncertainties in annual outlook

WEST LAFAYETTE, Ind. – The Purdue Agricultural Economics Report‘s Annual outlook problem identifies key elements that will have an effect on the agricultural economic system within the coming yr. For 2022, Purdue specialists cite inflation and COVID-19 uncertainty as key points impacting meals costs, common economic system efficiency, farm prices and returns, farm financials and family economics.

Jayson Lusk, Purdue College Distinguished Professor of Agricultural Economics, tackles the problem of accelerating meals costs within the coming yr, suggesting that slowing authorities spending could sluggish the speed of inflation. Larry DeBoer, professor emeritus, examines the function of inflationary expectations on the broad economic system, asserting that value will increase in 2021, in addition to how continued COVID-19 problems could have a continued unfavourable impact on financial restoration. Maria Marshall, professor and the Jim and Lois Ackerman Endowed Chair of Agricultural Economics, identifies the challenges that inflation locations on households, particularly these in rural areas, as they relate to childcare and employment. Within the areas of farm administration and finance, professors Michael Langemeier and Nicole Olynk Widmar forecast that crop and dairy producers ought to anticipate to see rising enter prices and a squeeze on margins in 2022.

Further articles within the problem give attention to topical areas the place COVID-19 and inflation aren’t main issues; nonetheless, their results are nonetheless being felt. Professor Russell Hillberry and affiliate professor Roman Keeney give attention to modifications in commerce (provide chains, China) and farm insurance policies (financial shocks impacting the following farm invoice), whereas Brady Brewer, assistant professor, and Todd Kuethe, affiliate professor and Schrader Endowed Chair in Farmland Economics, have a look at altering farm land values, money rents, and expectations for agricultural credit score markets in 2022.

The Purdue Agricultural Economics Report is a quarterly publication from the Division of Agricultural Economics at Purdue’s School of Agriculture. Articles within the annual outlook problem are meant to supply a roadmap for understanding challenges dealing with the agricultural economic system.

Writers: Kami Goodwin, kami@purdue.edu

sources: Roman Keeney, rkeeney@purdue.edu

Agricultural Communications: 765-494-8415;

Maureen Manier, Division Head, mmanier@purdue.edu

Agriculture Information Web page