
Consumer Spending on Food Dropped 10% in 2020
During COVID-19 and the economic recession of 2020, the share of consumers’ disposable personal income spent on food dropped 10.1% from the previous year to 8.62%. The USDA said that’s the lowest share in the past 60 years.
Disposable Personal Income is the amount of money that consumers have left to spend or save after paying taxes. The share
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