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by karaterobot 965 days ago
This is technically correct ("the best kind of correct!"), but the upward march of that inflation-adjusted trend graph is pretty clear. I'm not a doomer, just trying to be even-handed.
2 comments

It simply means that people are living a better life and can afford to cook less and eat out more. Positive indicator without any "if"-s and "but"-s.
That's a reflection of a growing economy. Real incomes are higher so people have more to spend.

Edit: add data

Real personal income https://fred.stlouisfed.org/series/RPI

Real GDP https://fred.stlouisfed.org/series/GDPC1/

I think I'm getting the unit right on this graph. Food at home as a percentage of disposable income: https://fred.stlouisfed.org/graph/?g=1aWLA