Food Prices Set to Rise Due to Drought

by Bob Curley on August 4, 2012

Too much red meat can be bad for your health, and if you’re looking for another good reason to cut back on your consumption of steaks and chops, here’s one: the price of meat is expected to rise, CNNMoney reported July 31.

The drought affecting the U.S. heartland is the main culprit behind the price-increase projections. Feed prices are up, which could entice ranchers to cull their herds. That may mean lower meat prices in the short run, but higher prices in the long term.

The average price of ground beef is already up 4 percent this year. The cost of vegetable oil, dairy products and, to a lesser extent, chicken also is expected to increase in the coming months.

(Photo © Wikipedia)