NFU guide: State of the Farming Economy

30 March 2023

A stylised image of a large pound coin set against a landscape of green fields

Get the latest State of the Farming Economy briefing from the NFU's economic intelligence team.

Our State of the Farming Economy briefing provides a snapshot of the current economic situation and an insight into the medium-term prospects for the food and farming sector and why agriculture is important to the national economy.

Download it today: NFU State of the Farming Economy briefing March 2023

What's in the briefing?

This edition includes:

  • Updated commodity price analysis and outlook
  • The NLW (National Living Wage) will rise to £10.42 from 1 April 2023
  • UK food prices are rising at their fastest rate in 45 years
  • UK wage growth continues to lag behind the rising cost of living
  • Interest rates have risen again and now stand at 4.25%
  • The OBR (Office for Budget Responsibility) now expects the economy to contract by 0.2% this year but avoid a recession
  • On a monthly basis, the price index for agricultural inputs fell by 1.6% in January
  • Government borrowing in February was £16.7bn, the most for any February since records began

File downloads

Ask us a question about this page

Once you have submitted your query someone from NFU CallFirst will contact you. If needed, your query will then be passed to the appropriate NFU policy team.

You have 0 characters remaining.

By completing the form with your details on this page, you are agreeing to have this information sent to the NFU for the purposes of contacting you regarding your enquiry. Please take time to read the NFU’s Privacy Policy if you require further information.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.