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A customer scoops soybeans as she shops at a supermarket in Wuhan, Hubei province April 14, 2014.
A customer scoops soybeans as she shops at a supermarket in Wuhan, Hubei province April 14, 2014.
(Darley Shen/Reuters)

Look out below: This TSX sector will suffer as food costs spike

Domestic inflation data will be reported Thursday and a sharp increase in food prices is almost certainly on the menu.

A severe drought in the western United States is limiting the supply of produce and driving prices higher. At the same time, a steadily weakening loonie is making things worse by adding an additional fee; all imported goods are more expensive in domestic currency terms.