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Digest
It's now official: We're buying more stuff
By TIMES WIRES
Published November 11, 2006
A new government report confirms what you might suspect: Most of us are spending more than we used to. The Bureau of Labor Statistics reports that the typical American's annual spending rose 6.9 percent in 2005. And before you start your rant about out-of-control expenses, know this: The Consumer Price Index rose only 3.4 percent during the same period. In other words, our spending is increasing faster than costs. The survey found statistically significant increases in spending on housing and transportation last year, contributing to the boost. Consumer expenditures in 2005 Average annual expenditures and characteristics of all consumer units and percent changes: |
Percent change | | Item | 2003 | 2004 | 2005 | 2003-04 | 2004-05 | | Average annual expenditures | $40,817 | $43,395 | $46,409 | 6.3 | 6.9 | | Food | 5,340 | 5,781 | 5,931 | 8.3 | 2.6 | | At home | 3,129 | 3,347 | 3,297 | 7.0 | - 1.5 | | Away from home | 2,211 | 2,434 | 2,634 | 10.1 | 8.2 | | Housing | 13,432 | 13,918 | 15,167 | 3.6 | 9.0 | | Apparel and services | 1,640 | 1,816 | 1,886 | 10.7 | 3.9 | | Transportation | 7,781 | 7,801 | 8,344 | 0.3 | 7.0 | | Health care | 2,416 | 2,574 | 2,664 | 6.5 | 3.5 | | Entertainment | 2,060 | 2,218 | 2,388 | 7.7 | 7.7 | | Personal insurance andpensions | 4,055 | 4,823 | 5,204 | 18.9 | 7.9 | | Other expenditures | 4,094 | 4,461 | 4,823 | 9.0 | 8.1 |
[Last modified November 10, 2006, 23:40:11]
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