Have you noticed the price of pork chops, ground beef and other food items have jumped in the supermarket? No wonder, one report says we're paying the most ever for food, 68 percent higher than five years ago.

Why? A big reason is the price of corn, which is at an all-time high because of the smallest corn harvest in three years as the result of drought. Most corn is used to feed animals and to make ethanol, according to the Bloomberg report.

In fact, the severe drought in the U.S. Southwest has reduced crop yields significantly, and will probably result in even higher food prices over the coming year. And rising food prices coupled with high unemployment are going to make people feel like the U.S. economy is getting worse, no matter if other numbers show the U.S. economy is improving.

Meanwhile, the U.S. isn't the only place to see higher food prices. In India, according to Business Standard, high food prices are the main reason inflation there hovered near 10 percent in October. Vegetables alone were up nearly 22 percent.

Although food prices remain high worldwide, they hit an 11-month low in October, according to the U.N. Food and Agriculture Organization index. Let's hope that trend continues.