Everett Griner talks about food budgets and whom is spending the most on food in today’s Agri View.
Here is something you have to stop and think about. Lower income families spend more on food than higher income families. Now, here is the explanation. It is not dollars and cents that is calculated. It is percentage of income. Recent studies shows that high income groups spend 6 ½ or 9 percent of their gross income on food while those at the bottom of the income spectrum spend 28 to 42 percent. One other thought. This is cash income and of course SNAP and other food assistance programs were not included. But with or without food assistance you have to consider constantly rising food prices. So while all income groups keep increasing their food expenses you can see where the less the income the higher the percentage that it takes to keep a family fed.
That’s Agri View for today. I’m Everett Griner