You’ll have reminders for a long time to come of the Drought of 2012. The effect on your food and gasoline budget won’t come for months, according to a financial planner in Peoria. Morgan Stanley Smith Barney vice president Tom Bardwell says, “It will take time for this to really come through the market. For you to see a steady increase of food prices right away, I think, probably will not happen. Most of the analysts that we’re reading now currently say that you could see a 3-to-4 percent rise in food prices in 2013 and thereafter.”

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Bardwell says many people who don’t follow the markets every day are surprised when they hear 2012 has been a good year, up about 5 percent so far.

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