The Farm Product Price Index (FPPI) increased 24.4% in September 2021 compared with the same month a year earlier, as a result of higher prices for both crops and livestock and animal products. This was the 13th consecutive year-over-year increase in the FPPI.
The crops index was mainly responsible for the increase in the FPPI, up 32.2% in September compared with the same month a year earlier. The increase in the crops index was driven by concerns over tightening crop supplies following 2021 drought in parts of the country, especially Western Canada, and a continued strong global demand which supported higher prices for most principal crop commodities.
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