Most of that increase in spending is driven by housing costs, which have surged, Zandi told CNN in an email on Friday. He added that families are also spending more at the grocery store; on buying, maintaining and insuring vehicles and on recreational services like cable.
Of course, paychecks have also grown over the past two years — but not by as much as the cost of living.
The time period was over two years, not four. Two years ago it was $996/week in Q2 of 2021. That’s $4316/mo or a $481/mo increase in that span. Still not $700 a month worse off, but they are worse off.
I think you are reading the “stuck at 2019 levels” and reading that as the starting point of their assertion.