Area's Per-Capita Income Outgains Inflation
Per-capita personal income in the Washington area outpaced inflation last year, with D.C. income gaining the most with a 4.3 percent increase to $30,555, according to a government report released yesterday. Maryland and Virginia per-capita income rose 3.9 percent each, to $24,847 and $22,501, respectively.</br></br>Nationally, Americans living in the nation's interior enjoyed the fastest growth in personal incomes last year, boosted in part by a rebound in farm income that had fallen during the 1993 Midwest floods, the Commerce Department study shows.</br></br>The study released by the department's Bureau of Economic Analysis found per-capita income for the nation rose 4.3 percent in 1994, to $21,699.</br></br>Inflation, as measured by a special price index for personal consumption expenditures, was 2.4 percent.</br></br>In addition to those in the Plains states, residents in many of the Great Lakes states shared in the brisk per-capita income growth, due to stronger durable goods manufacturing and increased construction.