According to the bureau of labor statistics, the 2012 drought was on par with the 1988 drought in terms of it’s affect on the (PPI) Producer Price Index, though the 2012 drought was more widespread and affected more states.
According to the bureau, the 1988 drought resulted in the Producer Price Index increasing by 21.3% for wheat, 26% for corn, and 22.5% for Soybeans. The 2012 drought caused a similar increase in the PPI for wheat, 20.2%, corn 20.5%, and Soybeans 13%. In August 2012, the processed foods and feeds index increased 1.1%, the largest rise since 2011. In contrast, the CPI food at home index advanced only .2%, compared with the 1.2% increase that happened in July 1988.Thank your for visiting our 2012 versus 1988 drought resource page!