Trendspotting: Greater percentage of income going to food now versus 10 years ago
By
Craig Levitt
Trendspotting: Greater percentage of income going to food now versus 10 years ago
By
Craig Levitt
Inflation is simply a fact of life. Prices for everything inherently go up. While people can get by without certain things in their lives, food is not one of them. What has become tricky is that while food prices go up, the average household income has remained relatively stagnant.
New research by price-tracking website PriceListo, revealed that Americans spent a significantly larger portion of their income on groceries in 2024 than 10 years ago.