Not so fast. Many Americans still spend more than one-third of their income on food—and it's not because they're dining out at fancy restaurants. The share of income a household devotes to food is greatest for households with the lowest incomes. Here is the food share of household expenditures by household income quintile...
Percent of after-tax income spent on food by household income quintile, 2019
Bottom quintile: 36%
Second quintile: 18%
Middle quintile: 14%
Fourth quintile: 11%
Highest quintile: 8%
Note: Households in the bottom income quintile have a before-tax income below $22,488; second income quintile $22,488 to $43,431; middle income quintile $43,432 to $72,233; fourth income quintile $72,234 to $120,728; highest income quintile $120,729 and above.
Source: USDA Economic Research Service, U.S. Households in the Lowest Income Quintile Spent an Average of 36 Percent of Income on Food in 2019
No comments:
Post a Comment