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
Brooks York with AgriSompo provide insight on crop insurance considerations and the decisions farmers are making as the enrollment deadline approaches.
Strong consumer demand supports livestock market outlook.
Farm legal expert Roger McEowen discusses a new rail antitrust case in Kansas and its potential implications for farmers as rail upgrades signal continued export-driven demand for logistics.
Strike risk adds volatility to already tight markets.
Technology-driven lending decisions may shape the future availability of farm credit.
Logistics remain firm, but freight costs continue to rise.
