Though grocery items may cost more these days, compared to other countries, food in the U.S. is still a bargain, the Georgia Farm Bureau reported Thursday.
USDA statistics show that U.S. consumers spend just 10 percent of their disposable income on food each year, the report stated. Applying this statistic to the calendar year means the average household will have earned enough money to pay for its annual food supply in about 37 days or five weeks.
To celebrate the affordability of food in America, the Georgia Farm Bureau is joining the American Farm Bureau in celebrating this week as Food Check-Out Week.
As the 37th day of the year, today has been designated as Food Check-Out Day.
"When consumers go through the grocery checkout line during the first week of February, we hope they will remember that this week marks the point of the year when, on average, most Georgians have earned enough money to buy their family’s food supply for the year," Georgia Farm Bureau President Zippy Duvall said.
Compared to the estimated 37 days it takes average Americans to earn enough money to purchase their yearly food supply, the average American must work 52 days to earn enough disposable income to pay for health and medical care, 62 days to cover housing and household expenses and 77 days to pay for federal taxes, according to research conducted by The Tax Foundation, a nonpartisan tax group based in Washington, D.C.