USDA expects 4% rise in food prices due to drought, Wall Street Journal reports

In New York, the Wall Street Journal published a story on the USDA’s expectations regarding the impact of this year’s drought. The USDA has estimated that food prices, including poultry, milk, and beef, will rise between 3 and 4 percent next year, followed by a 4 to 5% jump in 2013. The article also discussed the hold-up over the Farm Bill in the House, which could bring relief to drought-stricken farmers; House Speaker John Boehner (R-OH) indicated that a separate and more immediate drought relief may be in development.

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