Real Disposable Income Per Capita Up 0.5% in January

With the release of January's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. At two decimal places, the nominal 0.84% month-over-month change in disposable income comes to 0.51% when we adjust for inflation, the largest monthly gain in a year. The year-over-year metrics are 3.58% nominal and 1.05% real, the lowest level since 2022.