Personal Consumption and Single Persons: An Update

Abstract Kurt V. Krueger’s (2011) seminal study used 2005-2009 Consumer Expenditure Survey (CEX) data to examine various measures of personal consumption rates for single persons. Given changes in survey methods, the impacts of inflation over the following decade, changes in tastes and other factors affecting consumer demand, we re-estimate Krueger’s measures using 2015-2019 survey data. The estimation of estate accumulation rates has expanded as well. Single person expenditures and consumption rates using the 2015-2019 data differ from the earlier results. They also differ from those acquired by deflating 2019 earnings to 2009 values and using the 2005-2009 consumption rates. Experts may find it useful to employ single-person expenditure rates using more recent data.