Per Capita Personal Income in Indiana
INPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63,802.00
Year-over-Year Change
62.98%
Date Range
1/1/1929 - 1/1/2024
Summary
The Per Capita Personal Income in Indiana series measures the average income per person in the state. It is a key indicator of economic well-being and standard of living.
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
Per capita personal income is a comprehensive measure of income that includes all sources, such as wages, investment returns, and government benefits. This data provides insight into the economic conditions and purchasing power of Indiana residents.
Methodology
The Bureau of Economic Analysis calculates this metric using personal income data and population estimates.
Historical Context
Policymakers and analysts use this trend to assess the economic health and development of Indiana.
Key Facts
- Indiana's per capita personal income was $56,853 in 2021.
- Per capita income in Indiana has grown by 34% over the past decade.
- Indiana's per capita income is slightly below the national average.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in Indiana series measures the average income per person in the state, including wages, investments, and government benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being and purchasing power of Indiana residents, which is relevant for policymakers, businesses, and individuals analyzing the state's economic conditions.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates this metric by dividing total personal income in Indiana by the state's population.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the economic health and development of Indiana, informing decisions on taxation, spending, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published annually with a 1-year lag, so the most recent data point may not reflect the current economic conditions.
Related Trends
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Citation
U.S. Federal Reserve, Per Capita Personal Income in Indiana (INPCPI), retrieved from FRED.