America's Poor Spend 60% Of Their Income On Food & Housing Proving CPI Is Meaningless

http://www.zerohedge.com/news/2015-04-06/americas-poor-spend-60-their-income-food-housing-proving-cpi-meaningless

For many Americans, the rise in food and housing prices is a tough squeeze. That’s because—even in an era with low overall inflation—low-income Americans spend a disproportionate share of their money on food and housing.

New data from the Labor Department show the extent of the discrepancy. The bottom 10% of Americans, by income, devote 42% of their spending to housing and an additional 17% to food–nearly 60% of their total spending, according to the Consumer Expenditures Survey. By contrast, the wealthiest 10% of Americans dedicate only 31% of their spending to housing and 11% to food–closer to 40% of total spending…