Food inflation in the United States has jumped to its highest level in over four decades, putting more stress on American consumers, while agricultural output in the country took a beating following droughts. “From the same month one year ago, the PCE [Personal Consumption Expenditures] price index for August increased 6.2 percent. Prices for goods…
Americans Feeling the Bite of Food Inflation as Prices Soar to Highest Level in 43 Years
October 1, 2022
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Business & MarketseconomyExtreme Droughtfood inflationfood priceshigh inflationinflationMarketspersonal financeU.S. Agriculture DepartmentUS
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Extreme Weather in China Exacerbates Global Supply Chain Turbulence
The extreme weather in August has triggered another round of factory shutdown in China. The record high temperatures and drought around the Yangtze River basin led to industrial power outages in southwestern Sichuan Province, and affected the supply chains of many photovoltaic, automotive battery, and material supplies companies. The current wave of power cuts in…
Drought Forcing More American Farmers to Kill Their Own Crops
August 19, 2022
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Business & MarketsCalifornia droughteconomyExtreme DroughtLocal NewsRegional-Local NewsUSUS agricultureUS News
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Severe drought is forcing many farmers in the United States to destroy their crops, according to the latest survey by the American Farm Bureau Federation (AFBF), a lobbying group representing agriculture interests. The survey, conducted between June 8 and July 20, covers 15 states hit by extreme drought conditions and which collectively contribute to almost…
Farmers Worry as California’s Extreme Drought Hits Crops
June 14, 2021
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CaliforniacropseconomyExtreme DroughtLocal NewsNorthern CaliforniaRegional NewsRegional-Local NewsSouthern CaliforniaUSUS News
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California farmers produce about two-thirds of the fruits and nuts in the United States, plus one-third of the nation’s vegetables. As of April of this year, the National Integrated Drought Information System (NIDIS) announced that more than three-quarters of the state had entered moderate to severe drought conditions. Agriculture is an important part of California’s…
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