What the young and old spent on reading materials: 2019 vs. 1984 : Naturally, reading the free FRED Blog doesn’t count

FRED now has data from the Bureau of Labor Statistics’ Consumer Expenditure Surveys, which are used to keep the consumer price index (CPI) up to date with the current basket of goods and services bought by households. Here, we use that survey data to analyze spending on reading materials.*
The FRED graph above shows spending on reading for seven age groups in 2019. Hover over the pie chart slices to see how much each age group spent relative to the total for all age groups. In 2019, persons under 25 spent the least and persons over 75 spent the most.

The second FRED graph shows the same age groups but from 1984. Back then, persons under 25 still spent the least, but persons 35 to 44 and 45 to 54 spent the most. Because the dollar figures for these expenditures in each pie chart aren’t adjusted for changes in the cost of

Federal Reserve Source

Author: RealEstate