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Americans Have the Cheapest Food in History and on the Planet

March 22, 2012 | 1,586 views

USDA data shows that in 2009, Americans spent 9.47% of their disposable income on food (5.55% on food at home and 3.92% on food away from home).  The all-time record low was 9.42% in 2008.

Americans have access to the cheapest foods in history as a share of income.  The current wholesale, inflation-adjusted price of milk in the U.S., as one example, is about half the price it was 25 years ago, and about one-third the price it was 50 years ago.

According to Carpe Diem:

“And compared to other countries, there's no other place on the planet that has cheaper food than the U.S. ... The 5.5% of disposable income that Americans spend on food at home is less than half the amount of income spent by Germans (11.4%), the French (13.6%), the Italians (14.4%), and less than one-third the amount of income spent by consumers in South Africa (20.1%), Mexico (24.1%), and Turkey (24.5%), which is about what Americans spent DURING THE GREAT DEPRESSION, and far below what consumers spend in Kenya (45.9%) and Pakistan (45.6%).”

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