Real Per Capita Personal Income for Indiana
INRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,174.00
Year-over-Year Change
25.43%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Per Capita Personal Income for Indiana measures the average inflation-adjusted personal income per person in the state. It is a key indicator of economic well-being and living standards.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This metric tracks the total personal income of Indiana residents divided by the state's population, adjusted for inflation. It provides insights into the purchasing power and standard of living of Hoosiers over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and state population estimates.
Historical Context
Policymakers and economists use this trend to evaluate Indiana's economic performance and assess the financial health of its residents.
Key Facts
- Indiana's real per capita personal income was $52,284 in 2021.
- This figure has grown by 24% over the past decade.
- Real per capita income in Indiana is slightly below the national average.
FAQs
Q: What does this economic trend measure?
A: Real Per Capita Personal Income for Indiana measures the average inflation-adjusted personal income per person in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the purchasing power and standard of living of Indiana residents, which is useful for policymakers and economists assessing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and state population estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate Indiana's economic performance and assess the financial health of its residents.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Indiana (INRPIPC), retrieved from FRED.