On-farm inflation falls to 2.8%, says Beef + Lamb NZ

Financial pressure on farms will be felt in rural communities. (Image: NZME)

Fri, 07 Jun 2024

On-farm inflation for sheep and beef farmers has fallen to 2.8% as interest rates continue to bite.That’s according to the latest inflation report from industry group Beef + Lamb New Zealand, which found most farmers will not make a profit this year.However, this year’s inflation is a “significant decline” from last year’s 16.3%.In recent years, steep increases in interest rates, fuel and fertiliser all pushed on-farm inflation to its highest in 40 years.At the same time, farm margins have been under pressure, with...

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