American Household Incomes Down over the Last Year Due to Rising Prices

Posted by Kendall Harmon

Rising prices took a toll on Americans’ incomes as the year began, halting a four-month streak of gains and renewing concerns about the consumer’s resilience amid higher gas prices.

That’s according to a report Tuesday that found real median annual household income in the U.S. declined by 1.3% in January from December, to $50,020 from $50,673.

The tick downward follows monthly increases in income from September through the end of 2011, according to the analysis of Census Bureau data conducted by Sentier Research, an Annapolis, Md., firm run by two former Census officials.

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Filed under: * Economics, PoliticsEconomyConsumer/consumer spendingPersonal FinanceEnergy, Natural Resources

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