2014 Consumer Expenditures Surveys — 2015-09-03

Average expenditures per consumer unit in 2014 were $53,495, a 4.7-percent increase from 2013 levels, the U.S. Bureau of Labor Statistics reported today. During the same period, the Consumer Price Index (CPI-U) rose 1.6 percent(1). In 2013, spending decreased 0.7 percent. Average pre-tax income per consumer unit increased at about the same pace as expenditures, up 4.8 percent from 2013. 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. Most major components of household spending increased in 2014, as shown in table A. Many of the categories with large percentage increases in expenditures rebounded from declines in spending in 2013. The rise in healthcare expenditures was one of the largest increases among the major components. The subcomponent for health insurance expenditures increased primarily due to an improvement in the survey questionnaire.