Drought driving food prices up

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Updated: 7/27/2012 7:10 pm
JACKSONVILLE, Fla. -- Don and Kathy Spakes just finished their weekly shopping trip. The grand total was $172. "It seems like it goes up just a little bit every week," said Don.

And the U.S. Department of Agriculture says it's only going to get worse because of a drought in the Midwest hurting corn crops. "Not good and we come to Wal-Mart because they are the cheapest place," said Kathy.

Dairy is expected to jump between 3.5 to 4.5 percent. Eggs will go up between three to four percent. And beef will see the biggest spike of four to five percent. "Knowing it's getting higher, you dread coming to the store," said Kathy.

The prices at the Jacksonville Farmers Market are cheaper, but even the vendors there say they are seeing it. "Corn started out at $10 to $12 a bushel. Now it's $14 to $18 depending on if it's white or yellow corn," said Debra Eaton.

Corn is in just about every processed food, and farmers use it to feed their cattle.  "Do you think it's going to get better anytime soon? I hope so, but I don't think so," said Eaton.

And that is bad news for shoppers like Don and Kathy. According to the Federal Government, more than 60-percent of the country is considered to be under a drought.
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