2003 Consumer Expenditures Surveys — 2004-11-30

Average annual expenditures per consumer unit were essentially unchanged in 2003, up 0.3 percent, following increases of 2.9 percent in 2002 and 3.9 percent in 2001, according to results from the Consumer Expenditure Survey released by the Bureau of Labor Statistics of the U.S. Department of Labor. 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. Among the major components of spending, the only statistically significant changes from 2002 to 2003 were a 6.2-percent decrease in spending on apparel and services and a 4.0-percent increase in personal insurance and pensions. Average expenditures on food and entertainment decreased over the period, 0.7 percent and 0.9 percent, respectively, whereas housing rose 1.1 percent, transportation rose 0.3 percent, and health care rose 2.8 percent.