Inflation and interest rates dominate economics in 2023

Costs remain historically high

Cedric Porter
Business Reporter
clock • 2 min read
The Bank of England base interest rate continued to rise steadily from 3.5 per cent to 5.25 per cent in August and has been holding there since
Image:

The Bank of England base interest rate continued to rise steadily from 3.5 per cent to 5.25 per cent in August and has been holding there since

The eye-watering costs seen in 2022 have eased, but they remain historically high. The oil price ends the year at about $70/barrel (£54.74/barrel), $5 (£3.91) lower than at the start of the year. It...

To continue reading...

Already a member? Login for full access.

Login

New to Farmers Guardian? Register for 1 free article per week or become a member for unlimited access to essential farming news and insights.

article-img-580x358

 

More on Farm Business

Continued inflation and input rises risk farm viabiility, says union

Continued inflation and input rises risk farm viabiility, says union

UFU issues call to address 'political sticking plasters' as farmers face 25% rise in fertiliser costs

Jane Thynne
clock 18 September 2026 • 2 min read
Defra reveals fall in farm budget as SFI Window 2 opens

Defra reveals fall in farm budget as SFI Window 2 opens

Latest Farming Annual Report shows total farm budget fell to £2.322bn for 2025/26

Jane Thynne
clock 17 September 2026 • 2 min read
Mole Valley Farmers signs deal with Port of Ayr to help safeguard supplies

Mole Valley Farmers signs deal with Port of Ayr to help safeguard supplies

The Port of Ayr, owned and operated by Association of British Ports (ABP), sits on Scotland’s west coast at the entrance to the Firth of Clyde

Alex Black
clock 14 September 2026 • 2 min read