Energy Expenditures

With the recent sharp decline in energy prices, the percentage of household spending devoted to energy in Q4/14 was 4.9%, its lowest level since Q1/09. The last time it was below 5% for an entire year was 2003. The lowest quarterly percentage this century was 3.97% in Q1/02, while the highest was 6.59% in Q3/08. The highest on record was 9.27% in Q2/81 during the second OPEC oil shock.