The bar chart delineates the distribution of average weekly expenditures by families in a particular country during the years 1968 and 2018.
Overall, there is a notable transformation in spending patterns over the specified period, characterized by a significant decline in food expenses and a substantial rise in housing costs.
In 1968, the predominant allocation of family income was directed towards food, which constituted 35% of total expenses. Housing accounted for 22% of weekly income, while transport, clothing and footwear, and fuel and power comprised 15%, 10%, and a mere 5% respectively. Additionally, spending on personal goods, household goods, and leisure activities was minimal, each category representing less than 5% of the total expenditures.
Contrastingly, by 2018, the financial landscape had shifted dramatically. Housing emerged as the primary expense, comprising 40% of families’ weekly income, an increase of 18 percentage points relative to 1968. Transport expenditures also saw a significant rise, increasing to 30%. Conversely, food expenditure plummeted to 20%, marking a steep decline from its previous dominance. Leisure activities maintained a steady allocation of 15%, while clothing and footwear costs were reduced to a modest 5%. Categories such as household goods and fuel and power continued to occupy a minor share, with negligible variation observed in their respective percentages.