PEI

Hey big spender! P.E.I. households no longer lowest spending in country

The average amount spent by P.E.I. household grew regularly from 2010 through 2015, and as a result Island households are no longer the lowest spending in the country.

Transportation costs led P.E.I. household spending increases

The cost of transportation led P.E.I.'s increase in household spending. (CBC)

The average amount spent by P.E.I. households grew regularly from 2010 through 2015, and as a result Island households are no longer the lowest spending in the country.

                                                                                                   
  Average Household spending 
20142015
Canada$80,728$82,697
Prince Edward Island$68,358$68,441
New Brunswick$68,650$67,326
Quebec$69,215$68,431

According to a report released by Statistics Canada this week, household spending for P.E.I. over that five-year period grew at a rate very close to the national average, but that was enough to push it past Quebec and New Brunswick in 2015.

Household spending grew 15 per cent in those five years, to an average of $68,441 in 2015.

Average household spending in Canada in 2015 was $82,697, with Albertans the biggest spenders by a large margin, at $110,024.

Transportation costs lead P.E.I. increase

Over the past five years, Islanders's biggest spending increase was in transportation.

Spending was up more than 20 per cent, a little over $1,900.

Some major living expenses actually fell. Spending on owned living quarters was down two per cent since 2010. That was offset, however, by increased spending on rented living quarters, which was up more than 50 per cent.

Overall, spending on principal accommodation was up 11 per cent, less than the overall increase.

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