Food prices will race ahead faster than prices of other goods in the United States this year and next, due to the worst drought in more than a half a century, the government forecast on Wednesday.
Food prices rose 3.7 percent in 2011, and American consumers may pay 3.5 percent more at the grocery store this year, with higher prices for meat, poultry and fruit, as the drought gripping the U.S. farm belt drives up crop prices.
The U.S. Department of Agriculture forecast that food prices would jump between 2.5 percent and 3.5 percent in 2012 and then rise 3-4 percent in 2013.
Higher Food Prices Expected USDA says
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Seeded on Wed Jul 25, 2012 9:42 PM

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