|
Things may not be as bad as they seem.
FOOD COST
The Federal Reserve Bank of Dallas reports that in 1919 the average American had to work 158 minutes to buy a three-pound chicken; nowadays, 15 minutes gets you the bird.
U.S. consumers spend roughly 9 percent of their income on food compared with 11 percent in the United Kingdom, 17 percent in Japan, 27 percent in South Africa and 53 percent in India. (2009)
|