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Farm Bureau Celebrates Food Check-Out Week
LOUISVILLE, KY, January 30, 2008: The cost of food in America remains affordable. According to the latest statistics compiled by the Agriculture Department's (USDA's) Economic Research Service, American families and individuals currently spend, on average, just under 10 percent of their disposable personal income for food.
Applying that statistic to the calendar year means the average household will have earned enough disposable income -- that portion of income available for spending or saving -- to pay for its annual food supply in about 37 days, according to the Kentucky Farm Bureau.
In recognition of this, Kentucky Farm Bureau is celebrating Feb. 3-9, 2008, as Food Check-Out Week.
To mark the occasion, KFB will provide baskets of Kentucky grown and packaged products to all 138 members of the Kentucky General Assembly.
"Not only is America's food supply the world's safest, but it's also the most affordable", said Marshall Coyle, Kentucky Farm Bureau president. "The safe, abundant, and affordable domestic food supply that is produced by America's farmers is responsible, at least in part, for our nation's increasing standard of living. Compared to food, Americans work longer each year to pay for their housing, federal taxes and medical care."
According to the Tax Foundation, Americans must work 52 days each year to pay for health and medical care, 62 days to pay for housing/household operation and 77 days to pay their federal taxes.
The percent of disposable personal income spent for food has declined over the last 35 years. In 1970, it took Americans 14 more days to earn enough income to pay for their food supply for the year. According to USDA, food is more affordable today due to a widening gap between growth in per-capita incomes and the amount of money spent for food.
This overall decrease is made more notable by trends indicating Americans are buying more expensive convenience foods, as well as more food away from home.
FOR FURTHER INFORMATION
CONTACT TERRI BRADSHAW
Office 502-495-5191
Cellular 502-718-1164 |
