Growth in expenditures slows
WASHINGTON — Average annual expenditures per consumer unit rose 1.7 percent in 2008 following an increase of 2.6 percent in 2007, according to results from the Consumer Expenditure Survey (CE) released by the Bureau of Labor Statistics.
The spending increase was less than the 3.8-percent increase in prices from 2007 to 2008 as measured by the average annual change in the Consumer Price Index (CPI-U). The increase in spending in 2008 was the smallest increase since the 0.3-percent rise in 2003.
Increases in spending for housing (1.1 percent) and food (5.1 percent) were somewhat offset by decreases in spending for transportation (-1.8 percent) and apparel (-4.3 percent) resulting in the small overall increase in 2008. Among the other major components, spending increased for healthcare (4.3 percent), personal insurance and pensions (5 percent) and entertainment (5.1 percent).
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Silver Airways ordered to continue service
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Bryant signs controversial abortion ban bill
- Two Delta groups getting economic development funding
- Pharma Pac lays off rest of workers; could end up owing state
- Soybean yield more than doubles in less than a decade
- Plans unveiled for large shooting range on Coast
- Ole Miss launches commitment to be 'climate neutral'
- Yarber could be sworn in today as new Jackson mayor
- Biloxi baseball project still alive but may be held for 2015