According to the U.S. Bureau of Labor Statistics, prices for education and communication are 70.49% higher in 2024 versus 1993 (a $437,058.61 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 $620,000 in the year 1993 would cost $1,057,058.61 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.50% 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 $620,000 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 | $620,000.00 | - |
1994 | $643,994.24 | 3.87% |
1995 | $668,769.69 | 3.85% |
1996 | $691,480.51 | 3.40% |
1997 | $714,079.74 | 3.27% |
1998 | $727,471.87 | 1.88% |
1999 | $733,944.74 | 0.89% |
2000 | $743,598.24 | 1.32% |
2001 | $763,407.43 | 2.66% |
2002 | $782,658.63 | 2.52% |
2003 | $796,385.56 | 1.75% |
2004 | $809,442.89 | 1.64% |
2005 | $824,676.45 | 1.88% |
2006 | $847,052.47 | 2.71% |
2007 | $867,418.00 | 2.40% |
2008 | $896,831.03 | 3.39% |
2009 | $924,120.30 | 3.04% |
2010 | $942,442.97 | 1.98% |
2011 | $953,666.69 | 1.19% |
2012 | $970,916.32 | 1.81% |
2013 | $985,729.13 | 1.53% |
2014 | $997,564.99 | 1.20% |
2015 | $1,002,574.76 | 0.50% |
2016 | $1,009,282.55 | 0.67% |
2017 | $990,230.01 | -1.89% |
2018 | $992,258.36 | 0.20% |
2019 | $999,536.42 | 0.73% |
2020 | $1,017,745.26 | 1.82% |
2021 | $1,034,520.03 | 1.65% |
2022 | $1,043,140.10 | 0.83% |
2023 | $1,053,238.88 | 0.97% |
2024 | $1,057,058.61 | 0.36%* |
* 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 | 145.719 |