Primerica, a leading financial services provider, has released the Primerica Household Budget Index (HBI), revealing the purchasing power of U.S. middle-income households. In August 2023, the index showed that the average purchasing power for middle-income households with incomes between $30,000 and $130,000 was 97.4%, down slightly from 97.5% in July 2023.
A year ago, in August 2022, the index stood at 88.6%, indicating ongoing stress on middle-income budgets. Rising gas and food costs were cited as key factors affecting this trend, emphasizing the challenge of saving for the future and managing debt.