Thrifty Food Plan formula used by the dept of agriculture?

The Thrifty Food Plan (TFP) formula used by the Department of Agriculture (USDA) to calculate the cost of a basic food basket for a family of four people. The formula is as follows:

TFP = (Cost of the Market Basket ÷ 1.25) x 1.5

where:

* TFP is the cost of the Thrifty Food Plan

* Cost of the Market Basket is the cost of a specific basket of food items used by the USDA to represent a basic diet.

* 1.25 is a factor used to adjust for food waste

* 1.5 is a factor used to adjust for the cost of food at home and outside the home

The formula is used to provide a benchmark for the cost of a basic food basket, which is used to calculate poverty thresholds, determine eligibility for food assistance programs, and track the cost of food over time.