How Do Iowa Food Prices Compare To The United States?
We have all been hearing about inflation and are seeing the effects it has on our wallets. A large part of why inflation has been increasing has to do with food and gas prices increase.
Today, food costs 8 percent more than it did a year ago and not everyone’s wages are adjusting to accommodate this price pinch.
According to an article in Southern Minn, the average United States family of four can expect to pay $9,835 on food in 2022. This number is a little lower in Iowa where people can expect to spend an average of $8,885 on food this year.
Hawaii has the highest estimated average food cost for 2022 at $14,042 to feed a family of four.
Iowa is 45th in the country when looking at average annual food costs for a family of four, median income, and snap recipients.
A lot of times, food costs reflect what residents of a state can afford- which makes sense when looking at Iowa vs the US with average food costs and incomes. Iowa’s median family income is $79,186 a year and the national average is $80,069.
So, would what would happen if we increased wages?
There are a lot of different studies all over the world about what would happen if we did increase minimum wages, seeing how the cost of everything has been increasing.
While it is going to vary wherever you are in the world, one study in the US saw that it also varies in the different foods.
One study is even claiming that when you increase the minimum wage, it affects different foods’ prices differently.
Another study says that just increasing minimum wages by small increments over time, rather than one giant wage jump can minimize the effects on prices.
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