NFU guide: State of the Farming Economy

First published: 09 December 2022

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 December 2022

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
  • Food and drink exports to both EU and non-EU markets grew significantly in the first half of 2022
  • UK food prices are rising at their fastest rate in 42 years
  • UK wage growth continues to lag behind the rising cost of living
  • Interest rates have risen again and now stand at 3.0%, the biggest jump since 1989
  • The UK's unemployment rate remains close to its lowest level in nearly 50 years
  • The Bank of England has warned the UK is facing its longest recession since records began

File downloads

Ask us a question about this page

Once you have submitted your query our NFU CallFirst will contact you and, if appropriate, your question will be passed on to one of our policy teams.

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.