The .gov means it's official. Federal government websites often end in .gov or .mil. Before sharing sensitive information,
make sure you're on a federal government site.
The site is secure. The
https:// ensures that you are connecting to the official website and that any
information you provide is encrypted and transmitted securely.
Household spending on personal insurance and pensions increased the most from 2017 to 2018
September 13, 2019
Average expenditures per consumer unit for 2018 were $61,224, a 1.9-percent increase from 2017 levels. During the same period, the Consumer Price Index (CPI-U) rose 2.4 percent, and average pretax incomes increased by 6.9 percent. From 2017 to 2018, a 7.8-percent increase in personal insurance and pensions expenditures was the largest percentage increase among all major components. This compared with a decrease of 0.9 percent from 2016 to 2017.
Percent change in average annual expenditures of all consumer units, selected categories, 2016–18
Expense
Percent change, 2017–18
Percent change, 2016–17
2016
2017
2018
Food at home
2.3%
7.8%
$4,049
$4,363
$4,464
Food away from home
2.8
6.7
3,154
3,365
3,459
Owned housing
-3.9
10.4
6,295
6,947
6,678
Rented housing
2.0
3.3
4,035
4,167
4,249
Apparel and services
1.8
1.7
1,803
1,833
1,866
Vehicle purchases
-1.9
11.6
3,634
4,054
3,975
Gasoline, other fuels, and motor oil
7.2
3.1
1,909
1,968
2,109
Health insurance
-0.3
8.0
3,160
3,414
3,405
Entertainment
0.7
10.0
2,913
3,203
3,226
Personal care products and services
0.8
7.8
707
762
768
Education
-5.6
12.2
1,329
1,491
1,407
Cash contributions
0.8
-10.0
2,081
1,873
1,888
Personal insurance and pensions
7.8
-0.9
6,831
6,771
7,296
All other expenditures
0.0
6.0
1,897
2,010
2,030
From 2017 to 2018, the only percentage decrease among the largest components was a 5.6-percent decrease in education spending. This compared with a 12.2-percent increase in spending from 2016 to 2017. Spending on food at home (2.3 percent) and food away from home (2.8 percent) both increased from 2017 to 2018. Spending on gasoline, other fuels, and motor oil increased 7.2 percent from 2017 to 2018. Spending on vehicles declined 1.9 percent, following an increase of 11.6 percent from 2016 to 2017. Spending on the largest component of healthcare, health insurance, was down 0.3 percent, following a 8.0-percent increase from 2016 to 2017.
Household spending increased for all five income groups, ranging from 1.5 percent for households in the lowest and highest top 20 percent of income to 2.5 percent for households in the middle 20 percent of income.
Percent change in average annual household spending for major components by income group, 2017–18
Expense
Lowest 20%
Second 20%
Middle 20%
Fourth 20%
Highest 20%
Total
1.5%
1.7%
2.5%
2.3%
1.5%
Food at home
4.9
-0.1
1.1
3.8
2.2
Food away from home
-5.9
8.3
-4.8
10.6
1.9
Housing
1.3
1.4
2.3
-0.1
0.8
Apparel and services
-14.7
2.2
12.7
2.5
1.3
Transportation
6.3
2.9
1.2
1.7
1.1
Healthcare
-0.7
2.8
-0.1
1.8
0.1
Entertainment
7.8
16.6
1.0
0.7
-5.2
Cash contributions
-2.6
-7.0
-10.6
-0.9
8.0
Personal insurance and pensions
9.3
-15.2
14.1
4.9
10.2
All other expenditures
-0.8
5.0
7.0
5.0
-8.6
Transportation spending rose for all income groups from 2017 to 2018, increasing the most for those in the lowest income group (6.3 percent). Household spending on food at home, housing, apparel and services, entertainment, and personal insurance and pensions increased in four of five income groups. Cash contributions decreased for all income groups except the highest income group, where cash contributions increased 8.0 percent.
These data come from the Consumer Expenditure Surveys. To learn more, see “Consumer Expenditures — 2018.” Consumer units include families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share expenses.
United States Department of Labor
