Crews Bank & Trust Blog

Chart of the Day: 25% More for Food

Today’s Chart of the Day is from the Wall Street Journal utilizing data from the Labor Department, showing that you are not imagining things; there has been a cumulative 25% increase in the cost of groceries and dining out since 2020. The article also notes we are at a 30-year high, with 11% of disposable income allocated towards spending on food, stemming from higher labor and food costs. Finally, increased minimum wages coming into effect could exacerbate the issue.