December 01, 2004
At $40,817, average annual expenditures per consumer unit were essentially unchanged in 2003, up 0.3 percent. This followed increases of 2.9 percent in 2002 and 3.9 percent in 2001.
Among the major components of spending, the only statistically significant change from 2002 to 2003 was a 6.2-percent decrease in spending on apparel and services. Average expenditures on food and entertainment decreased over the period, 0.7 and 0.9 percent respectively, whereas housing rose 1.1 percent, transportation rose 0.3 percent, and health care rose 2.8 percent.
Whereas expenditures showed little change from 2002 to 2003, there was a 2.3 percent annual average rise in the Consumer Price Index (CPI) over this period.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Consumer expenditures in 2003 on the Internet at http://www.bls.gov/opub/ted/2004/nov/wk5/art03.htm (visited November 29, 2015).
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.