Amazon's proposed $13.7 billion purchase of Whole Foods Market may affect how you buy groceries, even if you don't have an Amazon Prime membership or regularly stock up on heirloom tomatoes from "Whole Paycheck."
"This transaction is going to change the landscape of how you buy food," Mickey Chadha, Moody's vice president and senior credit officer who covers Whole Foods, told CNBC's "Squawk Box" on Monday morning. He expects Amazon to put pressure on grocery stores to lower prices.
For the average American household, grocery costs are the fourth-largest expense after housing, transportation and health care, according to the Bureau of Labor Statistics. The typical household spends roughly 7 percent of its budget on groceries and food spending increases as incomes rise. (See chart below.)