The bar chartillstrates the proportion of household income allocated to food, housing and entertainment in 1960 and 2020. Overall, housing consistently accounted for the largest share of spending, while food declined significantly over time.
in 1960, households devoted 40% of their income to housing, compared with 35% for food and 25% for entertainment. By 2020, the proportion for housing had increased to 50%, consolidating its position as the most dominant category. Entertainment also grew modestly, rising from 25% to 0 %.
By contrast, food experienced a sharp fall, dropping from 35% in 1960 to just 20% in 2020. This 15-percentage-point decrease represents the most substantial change among the three categories, reducing from the second- largest expenditure to the smallest.
In summary, while spending on housing and entertainment accounted for a greater share of income in 2020 than in 1960, the proportion allocated to food declined considerably. This indicates a otable shift in household spending patterns over the 60-year period.
