Menu Close

What percentage of household income is spent on food?

What percentage of household income is spent on food?

In 2020, U.S. consumers spent an average of 8.6 percent of their disposable personal income on food—divided between food at home (5.0 percent) and food away from home (3.6 percent).

What percentage of a US family’s income is spent on food *?

Average Share of Income Spent on Food in the United States Remained Relatively Steady From 2000 to 2019. Between 1960 and 2000, the average share of Americans’ disposable personal income (DPI) spent on food fell from 17.0 percent to 9.9 percent.

How does the percentage of income spent on food in the United States compared to other countries?

The US spends the least at 6.4%, Singapore spends the second lowest amount at 6.7%. Canada spends 9.1% on food, while Australia spends 9.8%.

What country has the highest percent of income spent on food?

Countries By Food Expenditure

Rank Country Household Income Spent on Food (%)
1 Nigeria 58.9
2 Kenya 52.2
3 Cameroon 45.5
4 Kazakhstan 42.8

What is a reasonable budget for groceries?

Groceries, housing and other essentials should take up no more than 50% of your monthly income. There are a few obvious ways to learn how much money you spend on groceries every month: You can add up receipts, view your credit card transaction history or track your spending with a budget app.

What is reasonable to spend on groceries?

Still, the USDA does offer some guidance for teenagers and people of all ages. For instance, a moderate budget for a teenage boy between ages 14 and 18 would be $74.50 in groceries a week (or $40.60 a week if you have what the USDA calls a thrifty budget and $86.10 a week for a liberal budget).

What is the average grocery bill for a family of 2?

The average weekly grocery bill for two people between the ages of 19 and 50 is $148, according to the USDA. For couples ages 51 to 70, you’re spending $143, the agency says. If the couple has two children ages 2-3 and 4-5 years old, the household’s weekly grocery total is $214 under a moderate-cost plan.

How much should 2 people spend on groceries?

Average grocery bill for 1 If you’re a single adult, depending on your household budget, look to spend between $175 and $345 each month on groceries. Average grocery bill for 2 For a two-adult household, the figure above will double: $350 to $690.

How much does the average American spend on fast food?

The average American individually spends $1,200 a year on fast food alone, while the average American household spends around 10% of their income.

What country eats out most?

Top 10 countries where people eat out the most each week:

  • USA (3.6 times)
  • Italy (3.4 times)
  • China (2.6 times)
  • France (2 times)
  • United Arab Emirates (2 times)
  • UK (1.6 times)
  • Germany (1.1 times)
  • India (1.1 times)

What percent of income is spent on food in China?

The dominance of food spending in Chinese budgets has diminished as income has grown—following the familiar “Engel’s Law”—but food remains the single largest item in household budgets. Food’s share of spending has declined to under 40 percent for urban households and about 45 percent for rural households.

How much should 2 adults spend on groceries a month?

These are the latest plan totals at the time of this writing for a family of two, defined as a male and female between ages 19 and 50: Thrifty plan: $402.80 per month. Low-cost plan: $517.50 per month. Moderate-cost plan: $640.20 per month.

What was the percentage of income spent on food in 1960?

As the chart shows, the average share of per capita income spent on food fell from 17.5 percent in 1960 to 9.6 percent in 2007. (It has since risen slightly, reaching 9.9 percent in 2013.)

What’s the percentage of personal income spent on food?

In 2020, U.S. consumers spent an average of 8.6 percent of their disposable personal income on food—divided between food at home (5.0 percent) and food away from home (3.6 percent). The share of disposable personal income spent on total food has trended downward since 1960, which has been driven by a shrinking share of income spent on food at home.

What was the average household income in 1950?

This change indicates for the first time a reversal of the generally downward trend in the purchasing power of the average family since the end of World War II. Nine million families in the United States received money incomes of $5,000 or more in 1950, and 10 million had incomes under $2,000.

Why does the US spend so much on food?

The share of household income spent on food is an indicator of national wellness and food security. In 1857, economist Ernst Engel posited that as incomes rise, households tend to spend a smaller percentage of their total income on food — both at home and away from home.