According to the U.S. Bureau of Labor Statistics, prices for college tuition and fees were 4.27% higher in 2020 versus 2018 (a $854.14 difference in value).
Between 2018 and 2020: College tuition experienced an average inflation rate of 2.11% per year. This rate of change indicates significant inflation. In other words, college tuition costing $20,000 in the year 2018 would cost $20,854.14 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for college tuition was higher.
In the year 2018: Pricing changed by 2.21%, which is above the average yearly change for college tuition during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for college tuition was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for College tuition and fees:
Below are calculations of equivalent buying power for College tuition, over time, for $20000 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|