Food Spending Grows Slowly

Food expenditures rose 2.3 percent in 1992 to $601 billion, with food at home up 1.3 percent and food away from home rising 3.5 percent (table 1). This growth was lower than for any other major category of personal consumption expenditures, as is typical (table 2). With the Nation gradually climbing out of recession in 1992 and with very small price increases for food at home, food expenditures adjusted for inflation rose 0.7 percent (0.1 percent at home and 1.5 percent away from home}--less than population growth. In other words, food spending per person at constant prices declined 0.4 percent in 1992. Price rises were modest-the smallest in 25 years-due to ample supplies, and were much less than for most other products and services. Vigorous competition among sellers of food-both for use at home and away-helped restrain price increases


Issue Date:
Sep 09 1993
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/266123
ISSN:
1056-327X
Language:
English
Published in:
Food Review: The Magazine of Food Economics, Volume 16, Issue 3
Page range:
23-27




 Record created 2017-12-18, last modified 2018-01-22

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