Ritchie Bros. digs into farm equipment trends with May 2022 Market Trends Report
RB Global Inc. (RBA)
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Source: PR Newswire
While pricing remains up year over year, U.S. & Canada indexes show decreasing inflation ratesVANCOUVER, BC, May 17, 2022 /PRNewswire/ - With its May Market Trends Report, Ritchie Bros. digs through farm equipment data to showcase trends in tractor, combine, header, sprayer, and air drill sales. According to Ritchie Bros. agriculture index, equipment prices are up approximately 14% year over year, for the three months ending April 2022.The free monthly report outlines decreasing inflation rates for most U.S. and Canada price indexes. Pricing is still up year over year, but the month-to-month inflation rate is slowing. For example, in the U.S., truck tractor prices in Ritchie Bros.' May report are up approximately 52% year over year—they were up 58% YOY in last month's report. However, the May report does show increasing inflation for construction equipment prices in Canada. To download the May Market Trends Report, visit rbassetsolutions.com/market-trends-report."We have experienced
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