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    10 States With the Highest Increase in Household Spending

    By Brooke Barley,

    19 hours ago
    https://img.particlenews.com/image.php?url=4P2BBH_0vn8Tg1f00
    andresr / iStock.com

    American household spending has gone up by 23.4% on average. This was spurred by the pandemic and many people receiving stimulus checks.

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    Though economists expected a halt at some point, it seems Americans have kept spending since the pandemic, despite inflation . Though, the items they’re buying aren’t all leisure items. The top purchases Americans are spending money on are financial services, insurance and healthcare. Only after those are taken care of do clothing and footwear make an appearance, according to the U.S. Bureau of Economic Analysis.

    However, some states have been spending more on household essentials than others. GreenImprove analyzed a study of household spending by state between 2018 and 2022. Here are the 10 states that had the biggest increases.

    Also see what the average American spends on 25 everyday items.

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    Utah

    Utah’s spending went up 32%. Utah’s per-capita personal consumption expenditures went up to $48,189 — a jump of about $11,000 over the five-year period.

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    Arizona

    Arizona takes second place on the list with a spending increase of 31%. Arizona households spent $12,000 more.

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    marekuliasz / iStock.com

    Colorado

    Colorado saw a 29% increase in household spending, up to about $59,000 from $46,000 before the pandemic.

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    batuhanozdel / Getty Images/iStockphoto

    California

    Residents in California spent about 28.5% more. That totals out to about $13,300.

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    North Carolina

    If you live in North Carolina, you probably experienced a pretty noticeable jump in spending. Residents are said to have spent 28% more — about $10,000.

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    Sean Pavone / iStock.com

    Florida

    Cost of living has gone up drastically in Florida, and you can tell by the household spending increase of 27%. In 2018, household expenditures totaled out to be $44,000; in 2022, they were $55,500.

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    Ric Schafer / Shutterstock.com

    Idaho

    Idaho also saw an increase in spending by about 27%. This shook out to households spending about $9,200 more.

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    Pgiam / Getty Images/iStockphoto

    Nevada

    The Western states definitely saw a price increase, and Nevada was not spared. The Silver State saw prices go up by approximately 26% — or about $10,000 per person.

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    South Carolina

    Both Carolinas have seen a pretty decent increase in spending. Residents of South Carolina saw a 26% increase in spending as well — about $9,500.

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    jmoor17 / Shutterstock.com

    Oregon

    Oregon also saw about a 26% increase in spending. That meant residents of the Beaver State saw their bills go up about $10,000 between 2018 and 2022.

    Methodology: The study looked at public data from the Bureau of Economic Analysis on the total dollars spent on Personal Consumption Expenditures. This data was analyzed and calculated to determine the Personal Consumption Expenditures per capita and to assess the percentage change in expenses from 2018 to 2022. The states were then ranked from highest to lowest, with the highest percentage change ranked at the top.

    This article originally appeared on GOBankingRates.com : 10 States With the Highest Increase in Household Spending

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    Guest
    14h ago
    We are number 1 in America for the Highest Prices of all . Time to vote out our stupid politicians in Suckcramento
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