College textbooks price inflation, 2001→2023

College Textbooks Inflation Calculator

Prices for College Textbooks, 2001-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for college textbooks are 143.01% higher in 2023 versus 2001 (a $28.60 difference in value).

Between 2001 and 2023: College textbooks experienced an average inflation rate of 4.12% per year. This rate of change indicates significant inflation. In other words, college textbooks costing $20 in the year 2001 would cost $48.60 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.48% during this same period, inflation for college textbooks was higher.

Price Inflation for College textbooks since 2001

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2007 (8.31%), 2009 (7.52%), and 2008 (7.52%).

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Buying power of $20.00 since 2001

Below are calculations of equivalent buying power for College textbooks, over time, for $20 beginning in 2001. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2001	$20.00	-
2002	$20.84	4.18%
2003	$22.20	6.53%
2004	$23.10	4.06%
2005	$24.05	4.14%
2006	$25.59	6.39%
2007	$27.72	8.31%
2008	$29.80	7.52%
2009	$32.04	7.52%
2010	$33.76	5.36%
2011	$35.47	5.08%
2012	$37.93	6.94%
2013	$40.34	6.36%
2014	$41.92	3.91%
2015	$44.40	5.92%
2016	$46.84	5.51%
2017	$48.07	2.61%
2018	$48.53	0.95%
2019	$47.38	-2.36%
2020	$46.65	-1.54%
2021	$47.11	0.98%
2022	$49.18	4.40%
2023	$48.60	-1.18%*

* 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 College textbooks:

Year	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
CPI	100.000	104.177	110.985	115.492	120.269	127.954	138.580	148.995	160.195	168.777	177.345	189.644	201.704	209.591	221.992	234.216	240.337	242.626	236.901	233.253	235.548	245.905	243.012

Adjust college textbooks prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2001 * 2001 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for College textbooks was 100.000 in the year 2001 and 243.012 in 2023:

243.012 / 100.000 * $20 = $48.60

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2001 has the same "purchasing power" as $48.60 in 2023 (in the CPI category of College textbooks).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for College textbooks in 2001. In addition to college textbooks, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.