The USDA Financial Analysis Service (ERS) Meals Expenditure Sequence (FES) supplies a complete measure of the full worth of all meals purchases in the US. The sequence tracks spending on meals supposed to be ready at dwelling (FAH), resembling groceries, and on meals ready exterior the house (FAFH), resembling in eating places. In February 2023, the sequence was expanded to incorporate month-to-month knowledge by institution sort, and in Might 2023, ERS launched state-level estimates to the sequence. Month-to-month and state-level FES estimates are for gross sales solely and don’t embrace meals supplied (resembling in hospitals), donated, home-grown, or served in academic establishments.
Document meals spending per capita in 2023
In 2023, meals spending by American customers, companies, and authorities entities peaked at $2.57 trillion. This interprets to $7,672 in spending per individual, a 7.5 p.c enhance from the earlier 12 months, whilst value will increase slowed. This enhance was primarily pushed by a 12.zero p.c enhance in spending on meals exterior the house, which grew to $four,485 per capita in 2023 from $four,004 in 2022. On the identical time, spending on meals at dwelling elevated 1.eight p.c to $three,187 per capita. from $three,130. The distinction between FAFH and FAH spending progress charges displays a shift in shopper habits as extra individuals opted to buy meals from eating places or different consuming out institutions quite than put together it at dwelling.
To learn the remainder of the story, go to: USDA ERS