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But that's not "dead flat"

Posted by Steve O on November 21, 2023 at 09:28:43:

Just nearly so. ;-) And the curve probably picked up a positive slope sometime in 2020. The main point is that food expense in the US of A is a relatively small portion of household income and is significantly lower than just a few decades ago, probably even after recent inflation is considered. Another takeaway from the plot is that we've probably reached some point of diminishing returns regarding this measure as the curve approaches 5%.