Largest rise in consumer spending in 2002: health care
November 25, 2003
Average annual expenditures per consumer unit rose 2.9 percent in 2002, following increases of 3.9 percent in 2001 and 2.8 percent in 2000. The increase in expenditures from 2001 to 2002 was more than the 1.6-percent annual average rise in the Consumer Price Index (CPI).
Among the major components of spending, expenditures on health care showed the largest increase in 2002, rising 7.7 percent. Spending on entertainment and on personal insurance and pensions also increased more than the average, rising 6.5 and 4.3 percent, respectively.
Spending on food, housing, transportation, and apparel and services all rose less than the overall average. Expenditures on apparel and service showed the smallest increase, 0.3 percent.
The Consumer Expenditure Survey is the source of these data. Consumer Expenditure Survey data also include the expenditures and income of consumers, as well as the demographic characteristics of those consumers. For more information, see news release USDL 03-759, "Consumer Expenditures in 2002" (PDF) (TXT).
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Largest rise in consumer spending in 2002: health care on the Internet at http://www.bls.gov/opub/ted/2003/nov/wk4/art02.htm (visited December 22, 2014).