During the first year of the COVID-19 pandemic, as many sheltered at home, Americans spent less money on food, particularly at, obviously, restaurants. But that trend has sharply reversed.
U.S. consumers are spending much more money on food now, fueled in part by going out to restaurants and bars more frequently, according to the U.S. Department of Agriculture.
In 2022, the share of income spent on food increased about 13% since 2021, the largest annual increase ever recorded, according to the USDA. That came just two years after one of the largest annual decreases — about 8% in 2020 compared to 2019.
Food prices also have increased over the past few years. Prices for meat, in particular, have risen dramatically, which the USDA found financially hurt households during the pandemic.
