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
Refining shifts could influence fuel and input costs.
Energy shifts influence diesel and fertilizer costs.
NRECA CEO Jim Matheson warns that rising electricity demand from AI and data centers could strain the grid and affect rural electric cooperatives if U.S. power infrastructure cannot keep up.
Weather remains the primary driver for wheat price outlook.
Acre reporting is crucial to maximize specialty crop aid.
For producers, success this season will require more than just a clean field; it will require meticulous record-keeping, a proactive written mitigation plan, and a constant eye on both the forecast and the federal docket.