Food and Housing Costs Hit 30-Year High, Squeezing American Paychecks

• Americans spent 11.3% of disposable income on food in 2022, highest since 1991 • Dining out increased after COVID lockdowns, driving up food spending • High grocery prices pushed consumers to cheaper options like cereal • Record 22.4 million households paid over 30% of income toward rent and utilities • Rent growth has slowed recently, giving paychecks a chance to catch up