By Caleb Wilson
Source: Food Business News
While consumers remain concerned about high food costs, at home food prices and away from home food prices are nearly as affordable as they were in January 2020.
Leo Feler, PhD, chief economist at data insights firm Numerator, analyzed data from the US Bureau of Labor Statistics and the Consumer Price Index (CPI) and found that consumer incomes increased almost as much as CPI food prices between January 2020 and December of last year. At home and away from home food costs rose, on aggregate, 25% during the period, and personal income increased an average of 24% over the same time.
Share This Story
