Tuesday, September 10, 2013Tweet
[IWS] BLS: CONSUMER EXPENDITURES--2012 [10 September 2013]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
CONSUMER EXPENDITURES--2012 [10 September 2013]
[full-text, 4 pages]
Average expenditures per consumer unit (1) in 2012 were $51,442, an increase
of 3.5 percent from 2011 levels, the U.S. Bureau of Labor Statistics reported
today. This surpassed the spending peak recorded in 2008, after which the
effects of the recession led to a low of $48,109 in 2010. The 2012 calendar
year increase in spending outpaced the 2.1-percent increase in prices for
goods and services during the same period, as measured by the Consumer Price
Index (CPI-U). This contrasts with 2010-2011, when the increase in average
expenditures mirrored the increase in prices.
Most of the major components of household spending increased in 2012, with
apparel being the lone exception, as shown in table A. The 11.2-percent rise
in cash contributions (including payments for support of college students,
alimony and child support, and giving to charities and religious organizations)
was the largest percentage increase among all major components. Overall
spending on transportation (+8.5 percent) and health care (+7.3 percent) rose
significantly, while spending on housing (+0.5 percent) and entertainment
(+1.3 percent) only increased modestly. Other highlights include a 2.2-percent
increase in food and a 3.1-percent increase in personal insurance and pensions.
Table A. Average annual expenditures and characteristics of all consumer units
and percent changes, 2010-2012
AND MUCH MORE...including TABLES....
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