Food spending as a share of income declines as income rises
As their incomes rise, U.S. households spend more money on food but it represents a smaller share of their income. In 2022, households in the lowest income quintile spent an average of $5,090 on food (representing 31.2 percent of income), while households in the highest income quintile spent an average of $15,713 on food (representing 8.0 percent of income).
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