RE: Food: Dropping As A Share Of Disposable Income
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Yes, food dropped as a percentage of total expenditure over the past few decades. But food prices have been rising over the past two years, and more steeply over the past few months. If this trend continues, food will once again account for the most expenditure in many people's budgets before long. I'd love to see that chart with 2019-2021 added on.
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Yes they have yet the mistake is to believe that food prices will continue to go up. While they might have some higher side, there is a limit to what people can spend.
However, to get an idea of historic proportions, just look at the commodity prices of food on 10 and 25 year charts. This will tell you what some of the different food prices are in terms of their all time highs.
https://tradingeconomics.com/commodity/wheat
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