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Drought in the United States and Your Food Costs
The info graphic show below is based on data from the USDA Economic Research Service’s analysis of retail food prices and the food dollar, or all the factors that affect what we pay for food. ![]() This info graphic demonstrate how the current drought, or any event that affects prices for raw farm commodities, ultimately has a marginal effect on what we pay at the grocery or restaurant. The info graphic is based on data from the USDA Economic Research Service’s analysis of retail food prices and the food dollar, or all the factors that affect what we pay for food. (Click to enlarge) The graphic helps to demonstrate how the current drought, or any event that affects prices for raw farm commodities, ultimately has a marginal effect on what we pay at the grocery or restaurant. Primarily, the graphic demonstrates two important pieces of information:
On July 25th, ERS forecast that we will likely see impacts on retail food prices within two months for beef, pork, poultry and dairy. Yet the full effects of the increase in corn prices for packaged and processed foods (cereal, corn flour, etc.) will likely take 10-12 months to move through to retail food prices, and should have little to no effect until that time. For additional information, see USDA ERS resources: A Revised and Expanded Food Dollar Series A Better Understanding of Our Food Costs (PDF) and Food Price Outlook web page. SectionsBusinessTopicsInflation, U.S. Department of Agriculture, USDA |
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