According to the U.S. Bureau of Labor Statistics, prices for education and communication were 64.09% higher in 2020 versus 1993 (a $448,654.97 difference in value).
Between 1993 and 2020: Education and communication experienced an average inflation rate of 1.85% per year. In other words, education and communication costing $700,000 in the year 1993 would cost $1,148,654.97 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 2.18% during this same period, inflation for education and communication was lower.
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 |
CPI | 85.500 | 88.767 | 92.200 | 95.333 | 98.433 | 100.300 | 101.200 | 102.500 | 105.233 | 107.900 | 109.800 | 111.600 | 113.700 | 116.767 | 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 |
Below are calculations of equivalent buying power for Education and communication, over time, for $700000 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 | $700,000.00 | - |
1994 | $726,744.64 | 3.82% |
1995 | $754,853.80 | 3.87% |
1996 | $780,506.82 | 3.40% |
1997 | $805,886.94 | 3.25% |
1998 | $821,169.59 | 1.90% |
1999 | $828,538.01 | 0.90% |
2000 | $839,181.29 | 1.28% |
2001 | $861,559.45 | 2.67% |
2002 | $883,391.81 | 2.53% |
2003 | $898,947.37 | 1.76% |
2004 | $913,684.21 | 1.64% |
2005 | $930,877.19 | 1.88% |
2006 | $955,984.41 | 2.70% |
2007 | $978,992.98 | 2.41% |
2008 | $1,012,183.63 | 3.39% |
2009 | $1,042,986.35 | 3.04% |
2010 | $1,063,664.33 | 1.98% |
2011 | $1,076,332.55 | 1.19% |
2012 | $1,095,798.83 | 1.81% |
2013 | $1,112,519.69 | 1.53% |
2014 | $1,125,878.36 | 1.20% |
2015 | $1,131,532.94 | 0.50% |
2016 | $1,139,103.31 | 0.67% |
2017 | $1,117,601.17 | -1.89% |
2018 | $1,119,888.11 | 0.20% |
2019 | $1,128,105.26 | 0.73% |
2020 | $1,148,654.97 | 1.82%* |