PRIMERICA HOUSEHOLD BUDGET INDEX™ (HBI™): Gas Prices Continued to Weigh on Purchasing Power of Middle-Income Families in May

PRIMERICA HOUSEHOLD BUDGET INDEX™ (HBI™): Gas Prices Continued to Weigh on Purchasing Power of Middle-Income Families in May

The latest Primerica Household Budget Index™ (HBI™) data, a monthly economic metric that examines how inflation and wage trends impact the ability of middle-income families to afford life’s everyday necessities, is estimated at 98.3% in May, down 1.1% from April and down 1.7% from a year ago.

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The latest Primerica Household Budget Index™ (HBI™) data, a monthly economic metric that examines how inflation and wage trends impact the ability of middle-income families to afford life’s everyday necessities, is estimated at 98.3% in May, down 1.1% from April and down 1.7% from a year ago. Gas prices rose in May, remaining the primary driver of declining purchasing power, although growth slowed month-over-month to 8.6% in May from 11% in April. Earned income increased 0.2% month-over-month and 2.5% year-over-year for middle-income Americans.

Gas prices rose in May, remaining the primary driver of declining purchasing power, although growth slowed month-over-month to 8.6% in May from 11% in April. Earned income increased 0.2% month-over-month and 2.5% year-over-year for middle-income Americans.