%
growth in cost of living from 2021 to 2023
%
increase in consumer prices from 2021 to 2023
1 in 4 Americans struggled to pay at least one household bill in the past 12 months.
Energy, food and housing were the top expenses these consumers had trouble affording.
Source: Euromonitor International Voice of the Consumer Survey, fielded January to February 2023 (n=1,013)
21%
food price index growth from 2021 to 2023
16%
housing price index growth from 2021 to 2023
Food and housing prices record double-digit growth over the past two years.
Note: Food price index includes non-alcoholic beverages.
Essential Spending by Income Decile
Decile 10 spends nearly 5x the amount of decile 1 on essentials, but these costs for lower-income households make up more than one-third of their budget.
Note: Spend per household in USD. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
DECILE 1
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 5
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 10
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
Essential Spending in the Biggest Cities
Clothing, food and housing will account for 27% to 31% of total household expenditure in the biggest US cities this year.
Note: Based on share of total household expenditure on essentials in 2023. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
Which city dwellers will be the most impacted?
