American Grocery Spending Reaches Shocking New Heights
Think you can't afford groceries anymore? You're not the only one-- the latest data from the federal government shows almost every American family is struggling with the high cost of inflation.
How Much Are Americans Spending on Groceries?
According to the United States Department of Agriculture's October 2023 estimates, a typical family is doling out an astounding $975.30 a MONTH on groceries-- and what's more, that's using the USDA's most budget-friendly plan.
LOOK: How Much Does the Average American Family Spend on Groceries?
Gallery Credit: Meg Dowdy
What the Heck Do These Numbers Mean?
In the TikTok below, user @thebiggersthebetter breaks down what the USDA data means to shoppers-- and takes a look at just how shocking inflation's impact is on the grocery aisle.
"I'm realizing--based on these numbers--that unless you're literally willing to eat ramen, potatoes, and rice for every meal, everybody is spending a [ton] on groceries," Biggers-Stewart said.
How Much of Our Budgets Are Going to the Grocery Bill?
In 2022, the median household income in the United States was just over $74,000. 52 weeks of the USDA's 'Thifty' plan would cost $11,705. That's about 15% of a total household income for grocery expenses.
Why Are Groceries So Expensive?
The UDSA notes that prices rose in 2022 and continued to do so at an alarming rate in 2023:
In 2022, food prices increased by 9.9 percent. Food-at-home prices increased by 11.4 percent, while food-away-from-home prices increased by 7.7 percent. All food price categories tracked by USDA, ERS increased by more than 5 percent, and all food categories grew faster than their historical average rate.
But WHY? Time notes that while inflation may be at an all-time high, so are profits at many manufacturers, with major corporations like Heinz increasing their net income by a staggering 448%.
What Can We Do to Cut Our Grocery Bills?
Many shoppers save with store loyalty programs and use coupons to reduce the price of their grocery bills, and families can also cut costs by buying in bulk at places like Costco or Sam's Club.
No-frills chain Aldi has surged in popularity in the United States in recent years thanks to its deep discounts-- often beating Walmart for the lowest price.
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Gallery Credit: Stacker
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Gallery Credit: Stacker