Education priced at $20 in 1993 $75.29 in 2024

Education Inflation Calculator

$

Prices for Education, 1993-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for education are 276.46% higher in 2024 versus 1993 (a $55.29 difference in value).

Between 1993 and 2024: Education experienced an average inflation rate of 4.37% per year. This rate of change indicates significant inflation. In other words, education costing $20 in the year 1993 would cost $75.29 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.49% during this same period, inflation for education was higher.

Price Inflation for Education since 1993

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2004 (6.96%), 2003 (6.66%), and 2002 (6.29%).

View price changes for other categories
Wireless telephone services · Rent of primary residence · Admission to sporting events · Gasoline (all types) · More

Buying power of $20.00 since 1993

Below are calculations of equivalent buying power for Education, over time, for $20 beginning in 1993. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1993$20.00-
1994$21.256.26%
1995$22.465.70%
1996$23.655.29%
1997$24.834.97%
1998$26.064.96%
1999$27.304.76%
2000$28.725.20%
2001$30.255.32%
2002$32.156.29%
2003$34.296.66%
2004$36.686.96%
2005$38.966.23%
2006$41.366.17%
2007$43.745.74%
2008$46.265.77%
2009$48.715.29%
2010$50.874.44%
2011$53.024.23%
2012$55.214.12%
2013$57.303.79%
2014$59.183.29%
2015$61.393.72%
2016$63.172.91%
2017$64.622.30%
2018$66.062.22%
2019$67.842.70%
2020$69.091.84%
2021$70.071.41%
2022$71.982.74%
2023$74.193.06%
2024$75.291.49%*

* 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:

Year19931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI78.36983.27788.02392.67797.285102.108106.969112.531118.515125.969134.362143.715152.669162.085171.388181.277190.857199.337207.768216.328224.521231.914240.535247.526253.211258.840265.840270.731274.555282.070290.707295.031

Adjust education prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1993 * 1993 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Education was 78.369 in the year 1993 and 295.031 in 2024:

295.031 / 78.369 * $20 = $75.29

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1993 has the same "purchasing power" as $75.29 in 2024 (in the CPI category of Education).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Education in 1993. In addition to education, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.