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Food Money

The USDA reports that Americans spent $877 billion for food purchased to eat and cook at home from grocery stores and a variety of grocery outlets. American’s spent another $813 billion when eating out. These numbers are for 2020 and combine for total food expenditures of $1,690 billion. With food inflation escalating the costs of food, it’s not unlikely that Americans will spend $2 trillion for food in 2022. That equates to food costs of roughly $6,000 per person or $500 a month. Obviously, most families get by spending a whole lot less than $500 per person per month.

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