Nominal and inflation-adjusted U.S. farm production expenses, 1970–2024F

Billion dollars

Line graph with 2 lines and 55 points per line.

Line 1, Nominal production expenses.
Point 1, 1970 is 44.452.
Point 2, 1971 is 47.107.
Point 3, 1972 is 51.688.
Point 4, 1973 is 64.554.
Point 5, 1974 is 70.98.
Point 6, 1975 is 75.043.
Point 7, 1976 is 82.742.
Point 8, 1977 is 88.884.
Point 9, 1978 is 103.249.
Point 10, 1979 is 123.305.
Point 11, 1980 is 133.138.
Point 12, 1981 is 139.444.
Point 13, 1982 is 140.305.
Point 14, 1983 is 139.593.
Point 15, 1984 is 142.006.
Point 16, 1985 is 132.559.
Point 17, 1986 is 125.008.
Point 18, 1987 is 130.403.
Point 19, 1988 is 138.283.
Point 20, 1989 is 145.116.
Point 21, 1990 is 151.534.
Point 22, 1991 is 151.814.
Point 23, 1992 is 150.384.
Point 24, 1993 is 158.297.
Point 25, 1994 is 163.54.
Point 26, 1995 is 171.062.
Point 27, 1996 is 176.871.
Point 28, 1997 is 186.723.
Point 29, 1998 is 185.473.
Point 30, 1999 is 187.244.
Point 31, 2000 is 190.982.
Point 32, 2001 is 195.009.
Point 33, 2002 is 191.426.
Point 34, 2003 is 197.739.
Point 35, 2004 is 207.453.
Point 36, 2005 is 219.742.
Point 37, 2006 is 232.734.
Point 38, 2007 is 269.547.
Point 39, 2008 is 286.489.
Point 40, 2009 is 274.384.
Point 41, 2010 is 279.401.
Point 42, 2011 is 306.852.
Point 43, 2012 is 353.376.
Point 44, 2013 is 360.373.
Point 45, 2014 is 391.05.
Point 46, 2015 is 359.131.
Point 47, 2016 is 349.938.
Point 48, 2017 is 350.285.
Point 49, 2018 is 343.094.
Point 50, 2019 is 347.816.
Point 51, 2020 is 357.279.
Point 52, 2021 is 371.985.
Point 53, 2022 is 428.479.
Point 54, 2023F is 438.316.
Point 55, 2024F is 455.066.
Line 2, Inflation-adjusted expenses (chain-type GDP deflator 2023=100).
Point 1, 1970 is 275.076.
Point 2, 1971 is 277.407.
Point 3, 1972 is 291.775.
Point 4, 1973 is 345.486.
Point 5, 1974 is 348.607.
Point 6, 1975 is 337.243.
Point 7, 1976 is 352.422.
Point 8, 1977 is 356.45.
Point 9, 1978 is 386.846.
Point 10, 1979 is 426.616.
Point 11, 1980 is 422.366.
Point 12, 1981 is 404.208.
Point 13, 1982 is 383.034.
Point 14, 1983 is 366.742.
Point 15, 1984 is 360.083.
Point 16, 1985 is 325.827.
Point 17, 1986 is 301.158.
Point 18, 1987 is 306.615.
Point 19, 1988 is 314.051.
Point 20, 1989 is 317.132.
Point 21, 1990 is 319.16.
Point 22, 1991 is 309.339.
Point 23, 1992 is 299.593.
Point 24, 1993 is 308.049.
Point 25, 1994 is 311.611.
Point 26, 1995 is 319.241.
Point 27, 1996 is 324.159.
Point 28, 1997 is 336.389.
Point 29, 1998 is 330.488.
Point 30, 1999 is 329.036.
Point 31, 2000 is 328.103.
Point 32, 2001 is 327.477.
Point 33, 2002 is 316.71.
Point 34, 2003 is 320.729.
Point 35, 2004 is 327.735.
Point 36, 2005 is 336.64.
Point 37, 2006 is 345.786.
Point 38, 2007 is 389.913.
Point 39, 2008 is 406.766.
Point 40, 2009 is 387.029.
Point 41, 2010 is 389.442.
Point 42, 2011 is 419.059.
Point 43, 2012 is 473.738.
Point 44, 2013 is 474.912.
Point 45, 2014 is 506.522.
Point 46, 2015 is 461.158.
Point 47, 2016 is 445.095.
Point 48, 2017 is 437.551.
Point 49, 2018 is 418.974.
Point 50, 2019 is 417.727.
Point 51, 2020 is 423.397.
Point 52, 2021 is 421.575.
Point 53, 2022 is 453.595.
Point 54, 2023F is 447.828.
Point 55, 2024F is 455.066.

Note: F = forecast; data for 2023 and 2024 are forecasts. Values are adjusted for inflation using the U.S. Department of Commerce, Bureau of Economic Analysis, Gross Domestic Product Price Index (BEA API series code: A191RG) rebased to 2024 by USDA, Economic Research Service.

Source: USDA, Economic Research Service, Farm Income and Wealth Statistics. Data as of February 7, 2024.