Reáljövedelem

Real income, referred to in some languages as reáljövedellem, is income adjusted for changes in the price level, and thus reflects purchasing power rather than nominal earnings. It can describe income of individuals or households, as well as aggregate measures such as real income per capita or real disposable income. Real income is a key indicator for assessing living standards and economic welfare over time.

To calculate real income, nominal income is deflated by a price index such as the consumer price index (CPI) or the GDP deflator. The growth rate of real income roughly equals nominal income growth minus inflation, meaning that a higher price level can erode purchasing power even if nominal earnings rise.

Different variants are used in analyses: real wages (income from labor adjusted for prices), real disposable income (post-tax and post-transfer income adjusted for prices), and real income per capita (real income divided by population). Cross-country comparisons often apply purchasing power parity (PPP) adjustments, but measurement challenges remain, including changing baskets, substitution effects, and quality adjustments.

Real income is a central measure of living standards and is used to assess economic growth, inequality, and the impact of wage and tax policies. Limitations include potential biases in price indices, regional price variation, and the fact that shifts in income distribution can occur even when average real income changes slowly.