Real Per Capita Income

I also wanted to call attention to this, from the St. Louis Federal Reserve. It depicts the real per capita income in the United States over time. I wish it included 2023 so we could see if the trend continues.

One more point: I wish that it broke the real per capita income down into income quintiles or deciles. The graph above is bad enough but I suspect it’s worse when you separate the population and income into segments.

So, what’s happening? I doubt it is just inflation.