Table 4. Rate of Change for Input Prices, Consumer Price Index, Interest Rates, and Rate
of Change in Land Values, 1996-2002.
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1996 1997 1998 1999 2000 2001 2002
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Annual Rate of Change for Input Prices Paid
Seed Prices (%) 1.12 -0.08 1.41 2.16 1.99 2.12
Fertilizer Prices (%) -1.76 -0.63 1.55 1.69 1.75 1.74
Chemical Prices (%) 1.45 -0.18 0.68 1.13 2.10 2.29
Machinery Prices (%) -0.25 -0.11 0.45 0.66 1.02 0.64
Fuel and Lube Prices (%) -4.23 -1.77 3.25 3.52 3.59 3.52
Labor (%) 1.63 1.55 1.62 1.93 2.24 2.02
Other Input Prices (%) 0.47 1.37 2.20 2.28 2.57 2.58
Non-Feed Dairy Costs (%) 0.28 2.08 2.23 2.36 2.71 2.42
Non-Feed Beef Costs (%) -0.15 0.36 1.02 1.24 1.48 1.30
Non-Feed Hog Costs (%) -1.86 5.01 7.34 0.99 1.53 2.97
Consumer Price Index 161.06 165.52 170.22 175.01 179.95 184.97 190.04
Annual Interest Rates
Long-Term (%) 7.14 7.17 7.27 7.16 7.07 7.12 7.09
Intermediate-Term (%) 8.02 7.75 7.75 7.76 7.69 7.46 7.29
Savings Account (%) 4.02 3.75 3.75 3.76 3.69 3.46 3.29
Annual Rate of Change
for U.S. Land Prices (%) 5.02 4.90 5.43 3.12 2.42 1.17
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Source: Food and Agricultural Policy Research Institute (FAPRI) at the University of
Missouri-Columbia and Iowa State University.