Nationwide drought to cause rising grocery prices
POSTED: Wednesday, July 18, 2012 - 5:00pm
UPDATED: Wednesday, July 18, 2012 - 5:04pm
NBC NATIONAL NEWS — As we swelter in the heat of mid-July, crops are withering.
With the rain staying away, the amount of money you'll soon spend to keep your family alive will rise like the mercury.
Dairy products will jump an estimated six percent, and beef prices will rise at least 5 percent.
Anything made from corn and soybeans will spike 10 percent, likely more; that means cereal, tortilla chips, ice cream, milk, and pizza prices are going up.
But it also means many other things will likely cost more too – BBQ sauce has high fructose corn syrup. Soda pop is loaded with it.
Over the counter medicines like Dayquil use corn starch. Margarine is made from soy beans. Even flavored water prices will rise because it contains sucralose, made from corn. Even green cleaners, because they're made with ethanol, which is derived from corn, will experience price raises.