Expenditures: Food Away from Home by Age: Age 75 or over
CXUFOODAWAYLB0409M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,187.00
Year-over-Year Change
53.04%
Date Range
1/1/1984 - 1/1/2023
Summary
This trend measures the average monthly expenditures on food away from home for households headed by individuals aged 75 or over in the U.S. It provides insights into the spending patterns and consumer behavior of older adults.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Expenditures: Food Away from Home by Age: Age 75 or over series tracks the average monthly out-of-home food expenditures for households with a reference person aged 75 or older. This data is useful for understanding the consumption habits and economic well-being of the elderly population.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is valuable for economists, policymakers, and businesses to analyze the spending patterns and preferences of the older adult demographic.
Key Facts
- The average monthly food away from home expenditure for households aged 75+ was $210 in 2021.
- Food away from home spending for this age group has increased by 20% over the past decade.
- Older adults allocate about 37% of their total food budget to dining out.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly expenditures on food consumed away from home for households headed by individuals aged 75 or over in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the spending patterns and consumer behavior of the older adult population, which is useful for economists, policymakers, and businesses to analyze.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the consumption habits and economic well-being of the elderly population, which can inform policy decisions related to retirement, healthcare, and other issues affecting older adults.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months, and may be subject to revisions based on updated survey responses.
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Citation
U.S. Federal Reserve, Expenditures: Food Away from Home by Age: Age 75 or over (CXUFOODAWAYLB0409M), retrieved from FRED.