USDA: Americans are spending a hefty percentage of their income on food
Americans are spending more than 10 percent of their disposable income on food, according to a new USDA report.
The figure rose steadily to 10.27 percent from 2000 to 2019. The share of income spent on food dropped to 9.4 percent in 2020, which was due to the pandemic, but that number rebounded back to pre-pandemic levels in 2021.
The report shows consumers began to eat at home more often since the onset of COVID-19, but the number of people going out to eat is back on the upswing.