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April 16, 2011

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Average household spending rises nearly 50%

AN average household in Shanghai is spending nearly 50 percent more on daily family expenses in 2010 compared to five years ago, a local government-supported survey has found.

Locals also expressed a strong call for a more equal income distribution among different social groups, said a survey conducted by the Shanghai Academy of Social Sciences, released yesterday.

Living expenses for families has surged considerably between 2005 and 2010 due to soaring consumer product prices, especially food.

The survey showed in 2010, an average family spent about 3,513 yuan (US$537) each month on daily expenses, a rise of 46 percent from five years ago. The spending gap between families proved significant as the lowest family expense per month was only 410 yuan while the highest was 55,000 yuan. Compared to 2005, the lowest and highest monthly spending increased 46 and 175 percent respectively, the survey found.

Locals were least satisfied with their incomes when asked to rate their satisfaction with certain things that included health care, housing and education services.

"People are expecting pay raises and changes in the social income distribution system," said Lu Xiaowen, deputy director with the institute.

Due to pressure from soaring living costs, residents said they were most concerned about their future income.


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