DULUTH, Ga.–(BUSINESS WIRE)–Primerica, Inc. (NYSE: PRI), a number one supplier of monetary providers and merchandise in the USA and Canada, introduced immediately the discharge of the Primerica (NYSE:) Family Price range Index™ (HBI™), a month-to-month index illustrating the buying energy of middle-income households with earnings between $30,000 and $130,000. In September 2024, the common buying energy for middle-income households was 102.7%, up from 102.1% in August 2024. This marks the fifth consecutive month buying energy rose for middle-income households. The sharp decline in gasoline costs was the first driver for the modest enhancements in spending energy in September.
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Primerica Family Price range Index™ – In September 2024, the common buying energy for middle-income households was 102.7%, up from 102.1% in August 2024. This marks the fifth consecutive month buying energy rose for middle-income households. (Graphic: Enterprise Wire)
For extra data on the Primerica Family Price range Index™, go to www.householdbudgetindex.com.
Concerning the Primerica Family Price range Index™ (HBI™)
The Primerica Family Price range Index™ (HBI™) is constructed month-to-month on behalf of Primerica by its chief financial guide Amy Crews Cutts, PhD, CBE ®. The index measures the buying energy of middle-income households with family incomes from $30,000 to $130,000 and is developed utilizing information from the U.S. Bureau of Labor Statistics, the US Bureau of the Census, and the Federal Reserve Financial institution of Kansas Metropolis. The index seems to be at the price of requirements together with meals, gasoline, utilities, and well being care and earned earnings to trace variations in inflation and wage progress.
The HBI™ is introduced as a share. If the index is above 100%, the buying energy of middle-income households is stronger than within the baseline interval and so they could have extra cash left over on the finish of the month that may be utilized to issues like leisure, additional financial savings, or debt discount. Whether it is beneath 100%, households could have to scale back total spending to ranges beneath price range, cut back their financial savings or enhance debt to cowl bills. The HBI™ makes use of January 2019 as its baseline. This cut-off date displays a latest regular financial time previous to the COVID-19 pandemic.
Periodically, prior HBI™ values could also be revised because of revisions within the CPI sequence and Client Expenditure Survey releases by the U.S. Bureau of Labor Statistics (BLS). Starting with the October 2023 launch of the HBI™ information, medical health insurance prices will not be included within the calculation of the HBI™ information as a part of the healthcare part due to some newly acknowledged methodology that has been utilized by the BLS to calculate the medical health insurance CPI. The medical health insurance CPI, as calculated by BLS, doesn’t measure shopper prices of medical health insurance similar to the price of premiums paid or a mixture of premiums and deductibles, however slightly premium values retained by well being insurers we don’t imagine it precisely displays shopper experiences. The healthcare part will proceed to incorporate medical providers, prescribed drugs and tools. Prior revealed values have been adjusted to mirror this modification. For extra data go to householdbudgetindex.com.
About Primerica, Inc.
Primerica, Inc., headquartered in Duluth, GA, is a number one supplier of monetary services and products to middle-income households in North America. Impartial licensed representatives educate Primerica shoppers about learn how to higher put together for a safer monetary future by assessing their wants and offering applicable options by time period life insurance coverage, which we underwrite, and mutual funds, annuities and different monetary merchandise, which we distribute totally on behalf of third events. We insured roughly 5.7 million lives and had roughly 2.9 million consumer funding accounts on December 31, 2023. Primerica, by its insurance coverage firm subsidiaries, was the #2 issuer of Time period Life insurance coverage protection in the USA and Canada in 2023. Primerica inventory is included within the S&P MidCap 400 and the Russell 1000 inventory indices and is traded on The New York Inventory Trade beneath the image PRI.
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Public RelationsGana Ahn, 678-431-9266gana.ahn@primerica.com
Investor RelationsNicole Russell, 470-564-6663nicole.russell@primerica.com
Supply: Primerica, Inc.
