Worst U.S. Drought in 50 Years to Raise Food Prices in 2013
Wired — Consumers can expect the worst US drought in 50 years to cast a shadow across food prices throughout 2013, according to fresh government data released Wednesday. The estimates are the first to capture the effects of this summer’s drought in America’s heartland, and show food prices increasing at a rate well above normal expectations.
“We’re expecting another year of tough food prices, bad news for consumers,” said USDA food economist Richard Volpe.
“The difference between normal and higher than normal in this case is one hundred percent attributable to the drought,” Volpe said. The food price index data is released by USDA each month; it is a set of numbers that indicates how much an average shopper is likely to pay at the supermarket.