In the fourth quarter of 2024, real household income per capita in the OECD rose by 0.5%, an increase from 0.2% in the previous quarter, with real GDP per capita also growing by 0.4%. Over the entirety of 2024, household income per capita grew by 1.8%, a slight uptick from 2023. However, the trend was uneven among countries, with mixed results across 19 nations. Portugal spurred growth with a substantial 6.7% increase, while Australia suffered the largest decline at -1.8%. Overall increases reflect decelerating inflation across the OECD.
Real household income per capita in the OECD increased by 0.5% in Q4 2024, showing a mixed picture across member countries.
Despite an overall increase in household income, only 9 out of 19 OECD countries recorded gains, highlighting significant disparities.
In 2024, Portugal exhibited the largest increase in real household income per capita at 6.7%, contrasting with Australia's decline of 1.8%.
The annual increase in real household income was driven by slowed inflation, with most countries maintaining growth despite some national declines.
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