Inflation impacting farmers
BISMARCK, N.D. (KFYR) - Inflation has hit its highest rate in four decades and it is impacting many people across the state, including farmers.
When prices of materials continue to rise, it becomes difficult to make a profit.
From long hours, to difficulty finding good workers, to being dependent on Mother Nature.
Jennifer Meyer, who has a farm in Wilton, says being a farmer can be difficult.
Now add in another challenge: rising prices for almost all goods and materials.
“Oh, yeah, everything is just up,” said Meyer. “I mean, you, you can’t go anywhere without seeing prices up at least 10%, if not a hundred, 200, 300%.”
That includes everything from fertilizer, to seeds, to equipment - everything you need to run a farm.
“It’s hard to really figure out how to handle that,” said Meyer. “This year, it’s hard to make a profit.”
Now, Meyer says another big hurdle- long wait times for items she needs immediately.
“There’s so much stuff that’s on back order that there’s things that are two, three months away from actually getting into your hands.”
For farmer Terry Entzminger, the biggest challenge is rising diesel prices. A gallon of diesel is now $5.54 cents according to AAA in North Dakota. That’s compared to $3.31 cents a gallon a year ago.
“The thing about diesel prices here is we see it every time we go to the pump or, you know, get our farm fuel delivery,” said Entzminger.
Economists predict inflation will decrease by 20203.
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