Study ranks states on how much $100 will buy
How Far Does a Dollar Go in Indiana in 2016?
Small business owners who feel their dollar goes further in
Indiana than elsewhere now have confirmation of that, but the state still
trails several surrounding states.
An analysis from The Tax Foundation, based on statistics from
the Bureau of Economic Analysis, says $100 in Indiana actually buys nearly
$109.41 worth of goods, because prices for goods are cheaper here than in
places like New York and California.
Among neighboring states, Indiana trailed Kentucky ($112.74)
and Ohio ($111.98), but surpassed Michigan ($106.27) and Illinois ($99.30).
Leading the country was Mississippi, where $100 would buy about
$115.34 worth of goods, while the District of Columbia came in last, at $84.67.
The study points out that, in general, high incomes and high
prices for goods go together, but states like Nebraska manage to have high
incomes without high prices.
For more, read the BEA’s full news release.
Read the Tax Foundation’s nationwide map and overall analysis here.