Today's Date: April 19, 2024
Investigation by the RCMP National Child Exploitation Crime Centre results in the arrest of a Gatineau man for distribution and   •   H2 Green Mining and Ohmium Sign Agreement to Boost Green Hydrogen in Chile   •   Solar Sector Sees $8.1 Billion in Corporate Funding in Q1 2024, Reports Mercom Capital Group   •   Bernhard and Hackensack Meridian Health Forge a Transformative 30-Year Energy Partnership, HMH Hospitals to be Largest Renewable   •   Two 1440 Media Marketing Leaders Honored as Top Women In Media & Ad Tech   •   US Consumers’ 2024 Sustainability Score Declines and Lags the Global Average, According to New Report   •   Avangrid Thanks Southern Connecticut Gas Employee for 51 Years of Service   •   Women MAKE Awards Recognize Excellence In Manufacturing   •   New Jersey Natural Gas to Reduce Fleet Emissions with Neste MY Renewable Diesel   •   Kontoor Brands Declares Quarterly Dividend   •   Gotodoctor acquires Industry Veteran Kevin Dougherty to its advisor board   •   Surfrider Foundation Launches Innovative Climate Action Program: Empowering Communities to Restore Coastlines and Combat Climate   •   ALSCO UNIFORMS DONATES $100,000 TO SPEEDWAY CHILDREN'S CHARITIES   •   Women's Infrastructure Network Virtually Opens the Market   •   AGCO Leader Wins 2024 Women MAKE Award   •   Consolidated Communications Releases 2023 Environmental, Social and Governance Report   •   MCR and BLT Complete $632 Million Refinancing of 53-Hotel Portfolio   •   Momcozy Unveils a Sneak Peek of Its Much-Anticipated Mother's Day Campaign   •   Elevating "She Power":'s "Most Excellent Female Bosses" Party Fosters Female Development   •   Ziegler Advises Retirement Housing Foundation on The Sale Of 15-Community Portfolio
Bookmark and Share

Primerica Household Budget Index™: Middle-Income Purchasing Power Held Steady in January

DULUTH, Ga. , February 29 /Businesswire/ - Primerica, Inc. (NYSE: PRI), a leading provider of financial services and products in the United States and Canada, announced today the release of the Primerica Household Budget Index™ (HBI™), a monthly index illustrating the purchasing power of middle-income households with income between $30,000 and $130,000. In January 2024, the average purchasing power for middle-income households was 101.6%, relatively unchanged compared to 101.7% in December 2023. A year ago, the index stood at 95.6%.

This press release features multimedia. View the full release here:

Primerica Household Budget Index™ (HBI™) - In January 2024, the average purchasing power for middle-income households was 101.6%, relatively unchanged compared to 101.7% in December 2023. A year ago, the index stood at 95.6%. (Graphic: Business Wire)

Primerica Household Budget Index™ (HBI™) - In January 2024, the average purchasing power for middle-income households was 101.6%, relatively unchanged compared to 101.7% in December 2023. A year ago, the index stood at 95.6%. (Graphic: Business Wire)


The index baseline is set at January 2019 and can be thought of as when middle-income households set a budget based on their earned income at that time. Between 2014 and 2020, the HBI™ results recorded steady gains in purchasing power for middle-income families, with a peak of 105.1% in November 2020. This means that relative to January 2019, households were in a stronger financial position to pay their monthly bills because wage growth outpaced the cost of everyday goods. Increasing inflation then caused the index to plummet. In June 2022, it reached a post-pandemic low of 86.7%.


Since May 2021, when the HBI™ dipped below 100% for the first time since the pandemic, the average middle-income household has cumulatively spent around $2,425 more than budget on basic necessities. In line with this, if the pandemic and ensuing inflation would not have been a factor, the HBI™ today would be closer to 110%.

For more information on the Primerica Household Budget Index™, visit

About the Primerica Household Budget Index™ (HBI™)

The Primerica Household Budget Index™ (HBI™) is constructed monthly on behalf of Primerica by its chief economic consultant Amy Crews Cutts, PhD, CBE®. The index measures the purchasing power of middle-income families with household incomes from $30,000 to $130,000 and is developed using data from the U.S. Bureau of Labor Statistics, the US Bureau of the Census, and the Federal Reserve Bank of Kansas City. The index looks at the cost of necessities including food, gas, utilities, and health care and earned income to track differences in inflation and wage growth.

The HBI™ is presented as a percentage. If the index is above 100%, the purchasing power of middle-income families is stronger than in the baseline period and they may have extra money left over at the end of the month that can be applied to things like entertainment, extra savings, or debt reduction. If it is under 100%, households may have to reduce overall spending to levels below budget, reduce their savings or increase debt to cover expenses. The HBI™ uses January 2019 as its baseline. This point in time reflects a recent “normal” economic time prior to the COVID-19 pandemic.

Periodically, prior HBI™ values may be revised due to revisions in the CPI series and Consumer Expenditure Survey releases by the U.S. Bureau of Labor Statistics (BLS). Beginning with the October 2023 release of the HBI™ data, health insurance costs will no longer be included in the calculation of the HBI™ data as part of the healthcare component because of some newly acknowledged methodology that has been used by the BLS to calculate the health insurance CPI. The health insurance CPI, as calculated by BLS, does not measure consumer costs of health insurance such as the cost of premiums paid or a combination of premiums and deductibles, but rather premium values retained by health insurers we do not believe it accurately reflects consumer experiences. The healthcare component will continue to include medical services, prescription drugs and equipment. Prior published values have been adjusted to reflect this change. For more information visit

About Primerica, Inc.

Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial products and services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. We insured approximately 5.7 million lives and had approximately 2.9 million client investment accounts on December 31, 2023. Primerica, through its insurance company subsidiaries, was the #3 issuer of Term Life insurance coverage in the United States and Canada in 2022. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.

STORY TAGS: Photo/Multimedia, Survey, Economic News/Analysis, Lifestyle, Residential Building & Real Estate, Banking, Construction & Property, Professional Services, Women, Men, Data Analytics, Family, Consumer, Finance, United States, North America, Georgia,


White House Live Stream
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Sounds Make the News ®
Atlanta - WAOK-Urban
Berkley / San Francisco - KPFA-Progressive
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
Washington - WOL-Urban

Listen to United Natiosns News