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US warns drought will push up food prices in 2013
BBC – Food prices are likely to rise in the US next year due to a drought gripping large parts of the Midwest, the US department for agriculture has warned. It forecasted that the price of milk, eggs and meat would all rise above the normal rate of inflation as the dry weather increased animal feed costs. Prices are expected to increase by between 3% and 4% in 2013, with beef prices expected to jump by up to 5%. The drought, which is affecting much of the Midwest, is the worst since 1956. Read Article
Tags: 2nd Great Depression, financial system, food agriculture, North America
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