According to the U.S. Bureau of Labor Statistics, prices for education and communication are 3.22% higher in 2022 versus 2016 (a $0.64 difference in value).
Between 2016 and 2022: Education and communication experienced an average inflation rate of 0.53% per year. In other words, education and communication costing $20 in the year 2016 would cost $20.64 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.17% during this same period, inflation for education and communication was lower.
In the year 2016: Pricing changed by 0.67%, which is above the average yearly change for education and communication during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for education and communication was lower.
Below are calculations of equivalent buying power for Education and communication, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Education and communication: