Wednesday, September 28, 2011

Food as a Percent of Total Household Budget by Country

The world’s poor faced the greatest burden from higher food prices. In developing nations, like those in the Middle East, more than 40 percent of average household budgets go toward food purchases. Even in the emerging BRIC countries of Brazil, Russia, India and China, between a quarter and a third of household income is spent on food. In more affluent nations, like the United States, the average household spends less than 10 percent of its household budget on food.

source: Federal Reserve Bank of KC [pdf]