Editing Per capita income (section)

{{More citations needed|date=January 2024}}{{short description|Average income of an economy}}
[[File:Countries by GNI (nominal) per capita in 2018.png|right|thumb|upright=1.4|[[List of countries by GNI (nominal) per capita|Nominal Gross national income per capita]] (2018, [[World Bank]])]]
'''Per capita income''' ('''PCI''') or '''average income''' measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. 

In many countries, per capita income is determined using regular population surveys, such as the [[American Community Survey]].<ref>{{Cite web |title=American Community Survey and Puerto Rico Community Survey: 2021 Subject Definitions |url=https://www.census.gov/quickfacts/fact/note/US/INC910222 |access-date=2024-01-28 |website=[[U.S. Census Bureau]] |page=90}}</ref> This allows the calculation of per capita income for both the country as a whole and specific regions or demographic groups. However, comparing per capita income across different countries is often difficult, since methodologies, definitions and data quality can vary greatly.<ref>{{Cite news |title=The world's richest countries in 2023 |url=https://www.economist.com/graphic-detail/2023/12/15/the-worlds-richest-countries-in-2023 |access-date=2024-01-28 |newspaper=The Economist |issn=0013-0613}}</ref><ref name=":0" /> Since the 1990s, the [[OECD]] has conducted regular surveys among its 38 member countries using a standardized methodology and set of questions.<ref name=":0">{{Cite book |last1=Förster |first1=Michael |title=Counting the poor: new thinking about European poverty measures and lessons for the United States |last2=d'Ercole |first2=Marco |date=2012 |publisher=Oxford Univ. Press |isbn=978-0-19-986058-6 |editor-last=Besharov |editor-first=Douglas J. |series=International policy exchange series |location=Oxford |pages=28 |editor-last2=Couch |editor-first2=Kenneth A.}}</ref>

Per capita income is often used to measure a sector's average income and compare the wealth of different populations. Per capita income is also often used to measure a country's [[standard of living]]. When used to compare income levels of different countries, it is usually expressed using a commonly used international currency, such as the [[euro]] or [[United States dollar]]. It is one of the three components of the [[Human Development Index]] of a country.