As Share Of Income, Americans Have The Cheapest Food In History And Cheapest Food On The PlanetMark Perryupdated Jul 03, 2010TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.The USDA recently updated its data on "Food expenditures as a share of disposable personal income," and reported that in 2009, Americans spent 9.47% of their disposable income on food (5.55% on food at home and 3.93% on food away from home). The share of income spent on food last year was just slightly higher than the 9.42% in 2008, which is the all-time record low (see top chart above). As just one example of many that explain why Americans have the cheapest foods in history (as a share of income), the bottom chart above shows the inflation-adjusted wholesale price of milk back to 1890. The current wholesale price of milk, about $15 per hundred weight (cwt), is about half the price of 25 years ago, and about one-third the price of 50 years ago. And compared to other countries, there's no other place on the planet that has cheaper food than the U.S. (2008 data here). The 5.5% of disposable income that Americans spend on food at home is less than half the amount of income spent by Germans (11.4%), the French (13.6%), the Italians (14.4%), and less than one-third the amount of income spent by consumers in South Africa (20.1%), Mexico (24.1%), and Turkey (24.5%), which is about what Americans spent DURING THE GREAT DEPRESSION, and far below what consumers spend in Kenya (45.9%) and Pakistan (45.6%). More proof that just being alive today in American, you've already "won the lottery of life."Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.