Spending on tobacco products and smoking supplies over time and across groups

Last week, we used data from the Consumer Expenditure Surveys to discuss changes in what people spend on reading materials. Here, we use the same data release to look at what people spend on tobacco products and smoking supplies.
Our first FRED graph shows that, between 1986 and 2019, overall spending on tobacco/smoking decreased for the sum total of all surveyed households. We’ve adjusted the annual dollar figures by the consumer price index for these products to account for their changing price over time. (FYI: The nominal figure for these expenditures in 2019 is $320 per household.)

Last week, we sorted the survey data by age group; here, we sort them by educational attainment, shown in our second, colorful FRED graph.
The share of these expenditures decreases as the level of educational attainment increases. In 2012, households with at most a high school degree made up 47.3% of the overall spending, and households

Federal Reserve Source

Author: RealEstate