Household Spending on Fuel, Food and Drink

by: Mark J. Perry


THE ECONOMIST -- The soaring cost of food and fuel is a concern for the governments of rich and poor countries alike. Many households in Africa and Asia shell-out more on food and fuel as a share of total spending and so are disproportionately hit by rising prices.

Despite rising food and fuel costs in the U.S., it could be a LOT worse. In fact, it IS a LOT worse everywhere in the world, except Western Europe, Australia and New Zealand, in terms of the percent of household income spent on the basics: fuel, food and drink (see map above, click to enlarge).