According to the U.S. Bureau of Labor Statistics, prices for education and communication are 70.93% higher in 2024 versus 1993 (a $1,773,191.48 difference in value).
Between 1993 and 2024: Education and communication experienced an average inflation rate of 1.74% per year. In other words, education and communication costing $2,500,000 in the year 1993 would cost $4,273,191.48 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for education and communication was lower.
Below are calculations of equivalent buying power for Education and communication, over time, for $2,500,000 beginning in 1993. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1993 | $2,500,000.00 | - |
1994 | $2,596,750.97 | 3.87% |
1995 | $2,696,651.97 | 3.85% |
1996 | $2,788,227.88 | 3.40% |
1997 | $2,879,353.79 | 3.27% |
1998 | $2,933,354.33 | 1.88% |
1999 | $2,959,454.59 | 0.89% |
2000 | $2,998,379.98 | 1.32% |
2001 | $3,078,255.78 | 2.66% |
2002 | $3,155,881.56 | 2.52% |
2003 | $3,211,232.11 | 1.75% |
2004 | $3,263,882.64 | 1.64% |
2005 | $3,325,308.25 | 1.88% |
2006 | $3,415,534.16 | 2.71% |
2007 | $3,497,653.23 | 2.40% |
2008 | $3,616,254.16 | 3.39% |
2009 | $3,726,291.51 | 3.04% |
2010 | $3,800,173.25 | 1.98% |
2011 | $3,845,430.20 | 1.19% |
2012 | $3,914,985.15 | 1.81% |
2013 | $3,974,714.25 | 1.53% |
2014 | $4,022,439.47 | 1.20% |
2015 | $4,042,640.18 | 0.50% |
2016 | $4,069,687.70 | 0.67% |
2017 | $3,992,862.93 | -1.89% |
2018 | $4,001,041.76 | 0.20% |
2019 | $4,030,388.80 | 0.73% |
2020 | $4,103,811.54 | 1.82% |
2021 | $4,171,451.71 | 1.65% |
2022 | $4,206,210.06 | 0.83% |
2023 | $4,246,930.97 | 0.97% |
2024 | $4,273,191.48 | 0.62%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Education and communication:
Year | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 85.469 | 88.777 | 92.192 | 95.323 | 98.438 | 100.285 | 101.177 | 102.508 | 105.238 | 107.892 | 109.785 | 111.585 | 113.685 | 116.769 | 119.577 | 123.631 | 127.393 | 129.919 | 131.466 | 133.844 | 135.886 | 137.518 | 138.209 | 139.133 | 136.507 | 136.786 | 137.790 | 140.300 | 142.612 | 143.801 | 145.193 | 146.091 |