Key insights include:

  • 64% of consumers predict food prices to rise in the coming year, and expected inflation is 3.7%.

  • Those who predict higher food prices place a higher value on food affordability.

  • Average weekly consumer food expenditures rose to $195 per week, up 7% from February of last year.

  • Consumers who predict food prices to rise spend a slightly larger share of their food budget on FAH (1.2%).

  • Inflation expectations differ by political affiliation with 71% of Republicans and 54% of Democrats expecting higher food prices.

  • Average weekly food-away-from-home (FAFH) meals are trending downward as FAFH inflation persists (5.1%).

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Survey Questionnaire: February 2024

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Formulas and Calculations

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Past Consumer Food Insights

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WHAT WOULD YOU LIKE TO KNOW ABOUT CONSUMERS?

If you are interested in additional analysis or adding questions to the survey, consider joining our Consumer Insights consortium. Contact rdevans@purdue.edu to learn more.

Published:
March 13, 2024

Data & Resources