Hi,
Are income values in the ACS PUMS 5-Year data adjusted for inflation?
The PUMS 5-year data file contains an inflation adjustment variable (ADJHSG and ADJINC). Can someone confirm whether these values have been applied to the income variables (HINCP and FINCP) in the raw data?
Sorry for the basic question.
TIA
AB
Adding to David's response, here is the information from the Census Bureau's technical documentation for the 2018-2022 5-year PUMS file:
Note on Income and Earnings Inflation Factor (ADJINC):
Divide ADJINC by 1,000,000 to obtain the inflation adjustment factor and multiply it to the PUMS variable value to adjust it to 2022 dollars. Variables requiring ADJINC on the Housing Unit file are FINCP and HINCP. Variables requiring ADJINC on the Person files are: INTP, OIP, PAP, PERNP, PINCP, RETP, SEMP, SSIP, SSP, and WAGP.
https://www2.census.gov/programs-surveys/acs/tech_docs/pums/2018_2022ACS_PUMS_User_Guide.pdf