Education and communication price inflation, 1993→2023

Education And Communication Inflation Calculator

Prices for Education And Communication, 1993-2023 ($56,000)

According to the U.S. Bureau of Labor Statistics, prices for education and communication are 69.98% higher in 2023 versus 1993 (a $39,186.05 difference in value).

Between 1993 and 2023: Education and communication experienced an average inflation rate of 1.78% per year. In other words, education and communication costing $56,000 in the year 1993 would cost $95,186.05 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for education and communication was lower.

Price Inflation for Education and communication since 1993

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

Years with the largest changes in pricing: 1994 (3.87%), 1995 (3.85%), and 1996 (3.40%).

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Buying power of $56,000.00 since 1993

Below are calculations of equivalent buying power for Education and communication, over time, for $56,000 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	$56,000.00	-
1994	$58,167.22	3.87%
1995	$60,405.00	3.85%
1996	$62,456.30	3.40%
1997	$64,497.52	3.27%
1998	$65,707.14	1.88%
1999	$66,291.78	0.89%
2000	$67,163.71	1.32%
2001	$68,952.93	2.66%
2002	$70,691.75	2.52%
2003	$71,931.60	1.75%
2004	$73,110.97	1.64%
2005	$74,486.90	1.88%
2006	$76,507.97	2.71%
2007	$78,347.43	2.40%
2008	$81,004.09	3.39%
2009	$83,468.93	3.04%
2010	$85,123.88	1.98%
2011	$86,137.64	1.19%
2012	$87,695.67	1.81%
2013	$89,033.60	1.53%
2014	$90,102.64	1.20%
2015	$90,555.14	0.50%
2016	$91,161.00	0.67%
2017	$89,440.13	-1.89%
2018	$89,623.34	0.20%
2019	$90,280.71	0.73%
2020	$91,925.38	1.82%
2021	$93,440.52	1.65%
2022	$94,219.11	0.83%
2023	$95,186.05	1.03%*

* 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
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	145.276

Adjust education and communication prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1993 * 1993 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Education and communication was 85.469 in the year 1993 and 145.276 in 2023:

145.276 / 85.469 * $56,000 = $95,186.05

Therefore, according to U.S. Bureau of Labor Statistics, $56,000 in 1993 has the same "purchasing power" as $95,186.05 in 2023 (in the CPI category of Education and communication).

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