A recent USDA study finds households that bring in less money tend to spend more of their income on food.
When looking at the lowest earners with an after-tax income around $16,000, those households spend around $5,000 on food, which comes out to around 32 percent of overall income.
For the highest earners, including those above $200,000, the share of food purchases is eight percent of overall income. Researchers found as households bring in more disposable earnings, they often switch to pricier foods, including dining out.
Related Stories
The Louisiana Farm Bureau has made 2024 a year for change and advocacy. The state’s Young Farmers & Ranchers Club recently met with congressional delegates on the issues affecting their employees and operations.
The Iowa Soybean Association shows us how one company, Benson Hill, is helping farmers grow soybeans with a specific purpose.