Tag: Household economics

According to the USDA, U.S. households spent an average of 12.9% of their total expenditures on food in 2023, with significant variations based on income, household size, and location. Understanding what percentage do people spend on food is crucial for effective personal finance management and offers a window into global economic trends.

According to the UN Food and Agriculture Organization (FAO), global food security relies on all people having physical, social, and economic access to sufficient, safe, and nutritious food at all times. This definition is fundamentally tied to the concept of **what is the basic food basket**, a key metric used to assess whether this access is truly possible for a given population.