Feeding a family of four at home will cost about $4 more each week this year than in 2012, according to The Food Institute. Meanwhile, away-from-home food spending is projected to increase about $2.40 each week.
Nearly a quarter of that projected increase in retail food prices will come from the meat case, for which prices are seen rising almost one dollar per week from 2012 levels. As a result, overall expenditures for food-at-home are forecast to total about $108 per week this year for a U.S. household of four.
“U.S. consumers should be aware that even with increased food inflation, U.S. food costs as a percent of overall annual expenditures continue to make up only about 7.7% of their total spending—the smallest among almost all nations,” said Brian Todd, Food Institute President and CEO.