How much disposable income are consumers spending to put food on the table?

It comes as no surprise grocery proces have taken steep climbs in recent years.

New data from USDA shows just how much disposable income consumers are spending to put food on the table.

They found that in 2023, U.S. consumers spent around 11 percent of their disposable income on food, and that is right in line with spending levels in 2022.

“Food at home” purchases fell a couple of points during 2023, with “food away from home” jumping nearly half a percent.

They place the rise on more disposable income, with consumers starting to return to outside the home eateries.

Related Stories
Corn and beef exports showed strong momentum, cotton sales surged, and soybean sales held steady, though China remains absent from the U.S. market.
Cheaper freight is helping exports move, especially corn, but weaker soybean demand looms large.
Disease risks remain a key factor to watch heading into fall.
American Farm Bureau Federation (AFBF) economist Danny Munch explains how the Emergency Livestock Relief Program application process differs from other USDA aid programs.
According to the National Council of Farmers Cooperatives (NCFC), President and CEO Chuck Conner says, there is only one other option besides addressing ag labor shortages.

LATEST STORIES BY THIS AUTHOR:

Treasury Secretary Scott Bessent last week said an announcement would be made on Tuesday. However, that self-imposed deadline has now passed.
Delaware FarmHER Katie Evans turns “ugly” produce into delicious treats through her nationally recognized brand, The Frozen Farmer
George Baird, with the American Society of Farm Managers and Rural Appraisers (ASFMRA), joins us with updates on how this year’s rice harvest is shaping up.
Crop insurance remains a vital tool for managing climate-driven risk.
Dr. Todd Davis, Chief Economist with the Indiana Farm Bureau, shares a snapshot of his state’s harvest conditions and insights from producers.
Market analyst Kevin Huddleston said news of trade deals could rebound cotton prices in late fall, and producers need to be ready to strike deals.