Sticking to a monthly budget hasn't been easy during the worst period of inflation in decades, especially when it comes to food and rent.
File - A shopper peruses cheese offerings at a Target store on Oct. 4, 2023, in Sheridan, Colo. A recent analysis by the U.S. Department of Agriculture's Economic Research Service and Harvard University's Joint Center for Housing Studies report shows how post-pandemic-lockdown life impacted how much of Americans' income went to necessities.of their disposable income on food in 2022, according to the USDA, similar to levels seen during the 1980s and the highest since 1991.
High rent has also been eating up more of Americans' paychecks. The conventional recommendation is not to spend more than 30% of income on. More than 12 million households paid more than 50% of their income that same year. These figures occurred at a time of peak rent growth after COVID-19 vaccines were widely accessible.
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