Thursday, August 16, 2012 - 8:35pm

Around The World (FOX 44) USA- The drought of 2012 is officially the worst in half a century. While it's out in the farms and fields right now, the impact will hit the rest of us sooner than expected. It has already withered corn crops, cracked the earth and sent ranchers scrambling to feed their herds. The next stop for this year's record drought is the nation's grocery stores. The ripple affect will mean price hikes down every aisle on products like cereal and chips but its animal-based perishable foods that are expected to be hardest hit. Prices on beef, dairy, poultry, eggs and pork will go up anywhere from 3.5 to 5% next year. For a family of four, the price hikes will add an estimated $615 to their annual grocery bill in 2013.

India- India is celebrating 65 years of independence from Britain today. The prime minister pledged to boost foreign investment as the country struggles with a sharp economic downturn. He also promised he'd increase spending on key infrastructure projects.

Australia- Australia has upheld the world's first law banning branding on cigarette packets. Starting December 1st, tobacco products in the country must be displayed in drab, uniform packaging, and have graphic health warnings. The UK government and many others are considering following suit.

Around the World

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