10 Year Food Inflation Summary>>> Over the s
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Posted On: 01/27/2018 10:27:15 PM
10 Year Food Inflation
Summary>>>
Over the span of 2000-2016, the amount of money spent on food by the average American household increased from $5,158 to $7,203, which is a 39.6% increase in spending.
Despite this, as Visual Capitalist's Jeff Desjardins notes, for most of the U.S. population, food actually makes up a decreasing portion of their household spending mix because of rising incomes over time. Just 13.1% of income was spent on food by the average household in 2016, making it a less important cost than both housing and transportation.
That said, fluctuations in food prices can still make a major impact on the population. For lower income households, food makes up a much higher percentage of incomes at 32.6% – and how individual foods change in price can make a big difference at the dinner table.
Many charts in the link>>>
https://www.zerohedge.com/news/2018-01-27/vis...mmon-items
Summary>>>
Over the span of 2000-2016, the amount of money spent on food by the average American household increased from $5,158 to $7,203, which is a 39.6% increase in spending.
Despite this, as Visual Capitalist's Jeff Desjardins notes, for most of the U.S. population, food actually makes up a decreasing portion of their household spending mix because of rising incomes over time. Just 13.1% of income was spent on food by the average household in 2016, making it a less important cost than both housing and transportation.
That said, fluctuations in food prices can still make a major impact on the population. For lower income households, food makes up a much higher percentage of incomes at 32.6% – and how individual foods change in price can make a big difference at the dinner table.
Many charts in the link>>>
https://www.zerohedge.com/news/2018-01-27/vis...mmon-items
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