Americans spending 74% of incomes on necessities

Consumers in the Great Depression spent less of their income on basic necessities than people do today, according to an Illinois Public Action Council survey. Consumers now spend an average of 74 percent of their income on basic necessities, such as food, shelter, energy, and medical care. Consumers in the depression spent only 62 percen of their income on the same items. The increase is attributed to inflation.

of 5 stories this month > Get unlimited stories
You've read 5 of 5 free stories

Only $1 for your first month.

Get unlimited Monitor journalism.