Food Prices and Spending - USDA ERS

Jan 5, 2025 · Average annual food-at-home prices were 5.0 percent higher in 2023 than in 2022. For context, the 20-year historical level of retail food price inflation is 2.5 percent per year. …

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6 days ago · In 2022, food inflation was 9.9%, and in 2023 it was 5.8% (Sweitzer, 2024). When comparing the small change in net profit margins for grocers and the dramatic increase in food …

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FAQs about Food Prices and Spending - USDA ERS Coupon?

How much did food-at-home spending increase in 2023?

Meanwhile, food-at-home spending increased from $1 trillion in 2022 to $1.1 trillion in 2023. Food-away-from-home expenditures accounted for 58.5 percent of total food expenditures in 2023—their highest share of total food spending observed in the series. ...

What percentage of consumer budget is allocated to food-at-home spending?

From 2022 to 2023, consumers’ budget share allocated to food-at-home spending decreased from 5.6 percent to 5.3 percent, while the share allocated to food-away-from-home spending increased from 5.6 percent to 5.9 percent. ...

How much money do Americans spend on food?

As their incomes rise, U.S. households spend more money on food, but it represents a smaller share of their income. In 2023, households in the lowest income quintile spent an average of $5,278 on food (representing 32.6 percent of after-tax income). ...

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