The given charts illustrates the information regarding the average account of money spent by a household on goods and services in a country in the year 1950 and 2010.The data is calibrated into percentage.
Overall it is evident that, household spent least on transportation in both the years. Interestingly housing cost in the initial year were more than half of the total cost of the household expenditures. However, in the final year it decreased in a larger extend.
Quite apparently, in 1950, people spent 72.1% on housing. This figure decreased by 50% in 2010. The proportion of food cost in the starting year was 11.2% which rose upto 34.0% in the final year. However, small changes were seen in the case of education. Spending money on education lied beturen 6 to 7% in both the years.
Moving towards the further information, healthcare constituted 2.4% of the total household expenditure in 1950 and it inclined to 4.5% in the year 2010. 3.3% money were spent on transportation and 4:4% for other services in the initial year. However this figure increased by approximately 11 and 15% respectively.
