Fox Business
Expand
Browse All Video
Watch Live

You're watching...

The Drought’s Impact on Your Grocery Bill

Details

  • Description

    FBN’s Adam Shapiro on how the drought is affecting consumers at the supermarket.

  • Duration 2:54
  • Date

Clips

Also in this playlist...

Commodities

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

OK a new report showing the drought gripping much of the country is rapidly intensifying.

The US drought monitor shows the amount -- US land in extreme drought jumping to more than 20% from last week that's up 7%.

As a stands nearly two thirds of the continental US -- in some stage of drought that's the largest since the drought monitor was started in 1999.

And you know what it's affecting you -- a lot of ways consumers can expect to pay as much as 4% more progress trees next year thanks to the drought.

That's after an increase of 3% this year vs last year so which foods are the most costly called Chris and Adam Shapiro joins me with -- with answers -- welcome.

Thank you Jerry and it's -- your favorites did.

What do you think -- and everything or do you think maybe a little -- comes down as anything that's.

-- friends I like it's -- peanut butter at its stage.

It's every -- I guess I like everything as part of the problem.

-- even the vegetables are going up in -- let's get into some of that the main Staples that everybody loves that are going up a price for instance pasta Gerry Costa has gone up.

Roughly 7% from June of this year compared to June of last year.

Its -- yet dollar 33 a pound right now that was as of June according to Labor Department statistics office.

But a year ago you would been paying roughly eight cents less so cost has gone up and it'll go up even more because of the job because of the week they used to make pasta.

Now take a look at ice cream this is going to be an interest in month.

Right now we're paying a -- -- for yell yell what your favorite flavor Vanilla chocolate I like Kamal.

-- -- all mixed together.

I'm gonna spend -- on the -- Sunday review because I love all that is what.

Look ice -- right now is it four dollars ninety cents a pound it's up four cents from June of last year.

This is really gonna jump though because -- farmers within the dairy herds they have to sell off their cattle because they can't -- the expense of corn feed now.

Dairy prices are expected to really shoot up so ice cream right now it's a bargain go by and sirloin steak.

This -- painful if you love red meat stake is out at this point six dollars 82 cents a pound.

That's 93 cents more than we were paying at this time last year and again as the herds get cut you'll see the price dropped just a little bit.

But then it will dramatically go up and it probably won't come down after that because the -- the -- the cattle herds.

Will be actually smaller one last thing that -- do when you make peanut -- camps that are feel that it you know but of if you do peanut -- he do come ready to take this -- and -- -- out of -- you know.

Yeah like about the way if I'm happy -- just get a spoon and then you have grab that they have butter in the best way to do it.

-- but they're up 42 cents you can 83 cents more repeat about it now than you were last year that too is going up the -- crop is not doing well you know.

I sit -- -- thing about the increases in wages and salaries and it's not as dramatic as those increases in food prices in the coming increases in food prices really puts.

American families and have my script.

Adam thanks for coming on tonight really appreciate your time you -- Jerry.

Load More