Drought Sparks Spike in Food Prices

    OAKTON, IN - JULY 19: Corn plants struggle to survive in a drought-stricken farm field on July 19, 2012 near Oakton, Indiana. The corn and soybean belt in the middle of the nation is experiencing one of the worst droughts in more than five decades. Indiana was the nation's fourth largest corn producer in 2011. (Photo by Scott Olson/Getty Images)

    Scott Olson / Getty Images

    The worst drought to plague the United States in almost 50 years is already taking a toll on crop yields and water preservation, and soon it will affect your grocery bill, too. The price of products like milk, beef, and pork will surge next year, the government said Wednesday, in response to severe heat that is eviscerating the corn crop and driving up the cost of feed. Poultry prices will go up immediately—an estimated 3.5 percent to 4.5 percent—because fowl grow the fastest and are the most impacted by higher feed prices. Consumers can expect higher prices to hit in November, agriculture economists say.

    Read it at The New York Times