Fears that the U.S. drought will drive up food prices next year are mostly unfounded, WSJ's Josh...

|By:, SA News Editor
Fears that the U.S. drought will drive up food prices next year are mostly unfounded, WSJ's Josh Mitchell writes, calculating the average consumer will spend only an extra $2.73/month. Food accounts for only ~14% of consumers’ daily living expenses, and given that prices for other items are falling or subdued, overall inflation likely will remain muted. (also)