With economic concerns looming large in the minds of most Americans, the average cost of food continues to remain affordable overall. According to the most recent information from the Agriculture Department’s (USDA’s) Economic Research Service, American families and individuals spend, on average, about 10 percent of their disposable personal income for food, much less than many other nations.
”Not only is America’s food supply among the world’s safest, it is the most affordable,” said Frances Price, chair of the South Carolina Farm Bureau Women’s Leadership Committee. “The abundant, affordable and safe domestic food supply produced by America’s farmers and ranchers is responsible, at least in part, for our nation’s high standard of living.”
Price said the food we enjoy as consumers is a product of our successful food production and distribution system, as well as America’s farmers and ranchers continuing to have access to effective and affordable crop protection tools.
South Carolina Farm Bureau will be celebrating the affordable food our farmers provide by commemorating Food Check-Out Week, February 21-27. Farm Bureau Women from all across the state will join together to donate food products to the three Ronald McDonald Houses and the McLeod’s Guest House along with local charities statewide.
The percent of disposable personal income spent for food has declined over the last 35 years. In 1970, Americans spent about 13% of their disposable income to pay for their food supply for the year. According to USDA, food is more affordable today due to a widening gap between growth in per-capita incomes and the amount of money spent for food.
Food Check-Out Week tracks the amount of income needed by Americans to purchase food on an annual basis, Price said. “There have been some slight fluctuations over the past few years, but food prices have remained relatively stable over time.”
Section Title
Join Today Start taking full advantage of our great member benefits today!» Learn More