Data Dictionary: ACS 2008 (1-Year Estimates)
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Data Source: U.S. Census Bureau
Table: C19001. Household Income In The Past 12 Months (In 2008 Inflation-Adjusted Dollars) [11]
Universe: Households
Table Details
C19001. Household Income In The Past 12 Months (In 2008 Inflation-Adjusted Dollars)
Universe: Households
Variable Label
C19001001
C19001002
C19001003
C19001004
C19001005
C19001006
C19001007
C19001008
C19001009
C19001010
C19001011
Relevant Documentation:
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
 
Income of Households
This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one person, average household income is usually less than average family income. Although the household income statistics cover the past 12 months, the characteristics of individuals and the composition of households refer to the time of interview. Thus, the income of the household does not include amounts received by individuals who were members of the household during all or part of the past 12 months if these individuals no longer resided in the household at the time of interview. Similarly, income amounts reported by individuals who did not reside in the household during the past 12 months but who were members of the household at the time of interview are included. However, the composition of most households was the same during the past 12 months as at the time of interview.
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
 
Adjusting Income for Inflation
Income components were reported for the 12 months preceding the interview month. Monthly Consumer Price Indices (CPI) factors were used to inflation-adjust these components to a reference calendar year (January through December). For example, a household interviewed in March 2008 reports their income for March 2007 through February 2008. Their income is adjusted to the 2008 reference calendar year by multiplying their reported income by 2008 average annual CPI (January-December 2008) and then dividing by the average CPI for March 2007-February2008.

In order to inflate income amounts from previous years, the dollar values on individual records are inflated to the latest years dollar values by multiplying by a factor equal to the average annual CPI-U-RS factor for the current year, divided by the average annual CPI-U-RS factor for the earlier/earliest year.