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 climb 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 US household of four.
"Information about where food costs and expenditures may be headed is valuable for our 1,700 members and the entire food industry, for their marketing and growth strategies," commented Food Institute President and CEO Brian Todd. "US consumers should be aware that even with increased food inflation, US 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."