November 09, 2006
Average annual expenditures per consumer unit rose 6.9 percent in 2005, following an increase of 6.3 percent in 2004 and 0.3 percent in 2003.
The increase in expenditures from 2004 to 2005 was more than the 3.4-percent rise in the annual average Consumer Price Index (CPI) over this period.
Statistically significant increases in spending on housing (9.0 percent) and transportation (7.0 percent), the largest components of spending, contributed to the overall increase in 2005. Increases for food (2.6 percent) and personal insurance and pensions (7.9 percent) also were statistically significant. Spending on apparel and services (3.9 percent), health care (3.5 percent), and entertainment (7.7 percent) also rose in 2005, but these increases were not statistically significant.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Consumer expenditures in 2005 on the Internet at http://www.bls.gov/opub/ted/2006/nov/wk1/art04.htm (visited November 28, 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.