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Lower income households spend higher share of after-tax income on food and adjust food spending more during economic downturns

by Victoria Davidenko, Megan Sweitzer and Winfrey Norton
6/11/2025

Food Markets & Prices

Line graph showing percent of after-tax income spent on food based on after-tax income quintiles of households from 1990 to 2023.

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A series of shocks to the food supply chain between January 2020 and January 2023 resulted in inflation peaking near 10 percent in 2022. U.S. food price increases have since tapered off, growing by 5.8 percent in 2023 and 2.3 percent in 2024.

Lower income households spend higher share of after-tax income on food and adjust food spending more during economic downturns

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