This paper aims to present a new analysis framework for assessing disparities among regions (or countries). It combines both economic and social variables, where the economic attributes refer in particular to marked differences in consumption variables. This analysis is also appealing for spatial convergence analyses over time. In our paper, both economic and social variables are included as the basis of a logical operational scheme that is suitable for comparative research. In this scheme the economic aspects of living standards are represented by different categories of consumption expenditures, while the social aspects are represented by indicators of health, education, labour market conditions, etc. The analysis of a region’s performance cannot be limited exclusively to either economic or social aspects, and hence our study aims to combine in an integrated framework both material (i.e., economic) and immaterial (i.e., social) aspects of society. In a time perspective, by introducing these concepts in the analysis of differences among regions, we may then be able to distinguish the concept of convergence into economic convergence and social convergence. Our analysis is illustrated by means of an empirical application to Italian data.