According to the U.S. Bureau of Labor Statistics, prices for education and communication are 67.89% higher in 2022 versus 1993 (a $1,357,868.33 difference in value).
Between 1993 and 2022: Education and communication experienced an average inflation rate of 1.80% per year. In other words, education and communication costing $2,000,000 in the year 1993 would cost $3,357,868.33 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.39% 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 $2,000,000 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 | $2,000,000.00 | - |
1994 | $2,077,132.84 | 3.86% |
1995 | $2,155,823.92 | 3.79% |
1996 | $2,229,645.50 | 3.42% |
1997 | $2,302,103.62 | 3.25% |
1998 | $2,343,786.52 | 1.81% |
1999 | $2,365,017.53 | 0.91% |
2000 | $2,396,571.87 | 1.33% |
2001 | $2,459,875.34 | 2.64% |
2002 | $2,521,815.35 | 2.52% |
2003 | $2,566,225.17 | 1.76% |
2004 | $2,607,713.28 | 1.62% |
2005 | $2,657,382.16 | 1.90% |
2006 | $2,728,866.38 | 2.69% |
2007 | $2,794,850.02 | 2.42% |
2008 | $2,889,641.60 | 3.39% |
2009 | $2,977,687.96 | 3.05% |
2010 | $3,036,784.18 | 1.98% |
2011 | $3,072,836.00 | 1.19% |
2012 | $3,128,432.02 | 1.81% |
2013 | $3,176,141.41 | 1.53% |
2014 | $3,214,199.45 | 1.20% |
2015 | $3,230,307.75 | 0.50% |
2016 | $3,252,041.29 | 0.67% |
2017 | $3,190,671.99 | -1.89% |
2018 | $3,197,189.33 | 0.20% |
2019 | $3,220,664.20 | 0.73% |
2020 | $3,279,339.70 | 1.82% |
2021 | $3,333,359.95 | 1.65% |
2022 | $3,357,868.33 | 0.74%* |
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 |
CPI | 85.567 | 88.867 | 92.233 | 95.392 | 98.492 | 100.275 | 101.183 | 102.533 | 105.242 | 107.892 | 109.792 | 111.567 | 113.692 | 116.750 | 119.573 | 123.629 | 127.395 | 129.924 | 131.466 | 133.845 | 135.886 | 137.514 | 138.203 | 139.133 | 136.508 | 136.786 | 137.791 | 140.301 | 142.612 | 143.661 |