ERS Data Products Show Food-At-Home Price Inflations From Producers to Consumers

Megan Sweitzer, Matthew MacLachlan, Wilson Sinclair, Alexander Stevens, Hayden Stewart, James Chandler Zachary and Eliana Zeballos

Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, 2023, vol. 2023

Abstract: As a basic necessity, food is a major component of household spending, representing 12.4 percent of U.S. household expenditures in 2021, behind housing (33.8 percent) and transportation (16.4 percent). Food price growth, or food inflation, affects all household budgets and can disproportionately impact the financial health as well as the food and nutrition security of lower income consumers. Lower income households spent a greater share of their income (30.6 percent) on food in 2021 than the national average. Moreover, rising food prices can force households to shift spending from other budget categories to allow them to buy enough food.

Keywords: Agricultural Finance; Consumer/Household Economics; Crop Production/Industries; Demand and Price Analysis; Financial Economics; Food Security and Poverty; Industrial Organization; International Relations/Trade; Livestock Production/Industries; Political Economy; Productivity Analysis; Public Economics; Risk and Uncertainty (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersaw:338918

DOI: 10.22004/ag.econ.338918

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