The average household spent $53,495 in 2014—3 percent more than in 2013, after adjusting for inflation. This is good news and it may signal an energized economy. Household spending reached an all-time high of $56,833 in 2006 (in 2014 dollars). In the years since, average household spending has fallen fairly steadily, reaching a low of $51,929 in 2013.
Necessities accounted for some but not all of the spending boost between 2013 and 2014. The average household spent 7.5 percent more on rent, after adjusting for inflation, but it also spent 9.6 percent more on apparel—a category that had been in long-term decline. Spending on entertainment climbed 8.2 percent, and spending on food away from home was up 4.5 percent. Spending on gasoline was down 7 percent. Health insurance spending in 2014 is not comparable to earlier years because of changes in the way the Consumer Expenditure Survey collects the data.
Average household spending (in 2014 dollars)
2014: $53,495
2013: $51,929
2012: $53,042
2011: $52,312
2010: $52,230
2006: $56,833
2000: $52,303
Source: Bureau of Labor Statistics, Consumer Expenditure Survey
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