Definition: In this task, you are given a text of many news articles seperated by special token "|||||". Your task is to summarize them.
Input: The enormous drought scorching the central USA will almost certainly cost at least $12 billion, making it the costliest since 1988, experts said Wednesday. 
  
 "There does seem to be near-unanimous agreement from industry experts that this year's drought losses will surpass the $12 billion recorded in 2011," says meteorologist Steve Bowen of Aon Benfield, a global reinsurance firm. 
  
 The Department of Agriculture said Wednesday that food prices next year could go up by 3%-4% as a result, with beef expected to take the highest jump at 4%-5%. 
  
 About 64% of the contiguous USA is in a drought, according to today's U.S. Drought Monitor, a federal website. 
  
 "Right now, it is difficult to say whether we end up reaching the loss levels of 1988 ($40 billion) and 1980 ($20 billion), given that it will be several months for agricultural industries to fully assess the total extent of their losses," Bowen says. 
  
 If adjusted for inflation to 2012 dollars, Bowen says, those drought losses would be $78 billion and $56 billion, based on National Climatic Data Center figures. 
  
 "If the intensity of this year's drought is prolonged throughout the rest of the summer, it may not be out of the question to experience losses that rival something seen out of those 1980s events," Bowen says. 
  
 Joseph Glauber, chief economist for the USDA, says his department won't have a clear picture of how much damage the nation's crops have sustained until a report Aug. 10. However, "it is safe to say" that this year's crop-insurance payments to farmers hit by drought will top the $10.8 billion paid last year, he says. 
  
 Paul Walker, senior meteorologist for AccuWeather, says that in many areas of the Corn Belt, rain wouldn't help because "it is getting too late in the growing season." 
  
 David Friedberg, founder and CEO of the San Francisco-based Climate Corporation, which sells insurance to farmers to supplement their federal crop insurance, estimates that yields on the 160 million acres of corn and soybeans planted in the U.S. this year will eventually be 30% lower than in a typical weather year. 
  
 "In 2013, as a result of this drought, we are looking at above-normal food-price inflation. … Consumers are certainly going to feel it," Richard Volpe, USDA economist, says. 
  
 Normal grocery price inflation is about 2.8%, he added, so even at the low end of the projected range people will see their grocery expenses rise more than usual in 2013. The USDA kept its projected food price increase for 2012 steady at 2.5% to 3.5%. ||||| Drought-damaged ears of corn are seen against dry, cracked earth on a farm near Fairbury, Illinois July 24, 2012. 
  
 WASHINGTON | 
  
 WASHINGTON (Reuters) - Food prices will race ahead faster than prices of other goods in the United States this year and next, due to the worst drought in more than a half a century, the government forecast on Wednesday. 
  
 Food prices rose 3.7 percent in 2011, and American consumers may pay 3.5 percent more at the grocery store this year, with higher prices for meat, poultry and fruit, as the drought gripping the U.S. farm belt drives up crop prices. 
  
 The U.S. Department of Agriculture forecast that food prices would jump between 2.5 percent and 3.5 percent in 2012 and then rise 3-4 percent in 2013. 
  
 "The drought is really going to hit food prices next year," said Richard Volpe, a USDA economist, adding the pressure on food prices would start to build later this year. 
  
 "It's already affecting corn and soybean prices, but then it has to work its way all the way through the system into feed prices and then animal prices, then wholesale prices and then finally, retail prices," Volpe said. 
  
 Food prices will rise far more rapidly than the overall U.S. inflation rate, according to USDA, a turnabout from the usual pattern. The U.S. inflation rate is estimated for 2 percent this year and 1.9 percent in 2013. Food inflation was 3.7 percent last year but only 0.8 percent in 2010. 
  
 Corn and soybeans have hit record highs on concerns the drought will slash yields for grain that is already in tight supply globally. 
  
 Corn for September delivery was up 3.5 cents on Wednesday to $7.93 a bushel after forecasts showing the region could expect only patchy rains and more of the scorching triple digit heat. 
  
 (Reporting By Russ Blinch) |||||
Output:
For the average consumer, the effects of this year's brutal drought are still months away, but they are coming, as many food prices next year are expected to jump by as much as 4%, reports Reuters. Already corn and soy prices are going up, which is expected to lead to higher feed costs next, and then higher prices for meat and dairy. Beef is expected to be hit hardest, climbing up to 5% in 2013. Another scary stat: Experts say that drought losses will be at least $12 billion, the most since 1988, reports USA Today. But with the economy's continuing weakness, rising food prices are not expected to boost the overall inflation rate, which is at 2% now and expected to fall to 1.9% next year. Help may be on the way for farmers by way of a bipartisan $1 trillion farm bill before Congress now. It has passed the Senate, but House Republicans are divided about what to do about it. "I've been urging the House of Representatives to get a bill to the floor and get it voted on so they can conference with the Senate and get a farm bill passed,” said Thomas J. Vilsack, the secretary of agriculture.