According to the U.S. Bureau of Labor Statistics, prices for education are 258.39% higher in 2024 versus 1994 (a $51.68 difference in value).
Between 1994 and 2024: Education experienced an average inflation rate of 4.35% per year. This rate of change indicates significant inflation. In other words, education costing $20 in the year 1994 would cost $71.68 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for education was higher.
In the year 1994: Pricing changed by 6.26%, which is above the average yearly change for education during the 1994-2024 time period. Compared to inflation for all items in 1994 (2.60%), inflation for education was much higher.
Below are calculations of equivalent buying power for Education, over time, for $20 beginning in 1994. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1994 | $20.00 | 6.26% |
| 1995 | $21.14 | 5.70% |
| 1996 | $22.26 | 5.29% |
| 1997 | $23.36 | 4.97% |
| 1998 | $24.52 | 4.96% |
| 1999 | $25.69 | 4.76% |
| 2000 | $27.03 | 5.20% |
| 2001 | $28.46 | 5.32% |
| 2002 | $30.25 | 6.29% |
| 2003 | $32.27 | 6.66% |
| 2004 | $34.52 | 6.96% |
| 2005 | $36.67 | 6.23% |
| 2006 | $38.93 | 6.17% |
| 2007 | $41.16 | 5.74% |
| 2008 | $43.54 | 5.77% |
| 2009 | $45.84 | 5.29% |
| 2010 | $47.87 | 4.44% |
| 2011 | $49.90 | 4.23% |
| 2012 | $51.95 | 4.12% |
| 2013 | $53.92 | 3.79% |
| 2014 | $55.70 | 3.29% |
| 2015 | $57.77 | 3.72% |
| 2016 | $59.45 | 2.91% |
| 2017 | $60.81 | 2.30% |
| 2018 | $62.16 | 2.22% |
| 2019 | $63.84 | 2.70% |
| 2020 | $65.02 | 1.84% |
| 2021 | $65.94 | 1.41% |
| 2022 | $67.74 | 2.74% |
| 2023 | $69.82 | 3.06% |
| 2024 | $71.68 | 2.67%* |
* 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:
| 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 | 78.369 | 83.277 | 88.023 | 92.677 | 97.285 | 102.108 | 106.969 | 112.531 | 118.515 | 125.969 | 134.362 | 143.715 | 152.669 | 162.085 | 171.388 | 181.277 | 190.857 | 199.337 | 207.768 | 216.328 | 224.521 | 231.914 | 240.535 | 247.526 | 253.211 | 258.840 | 265.840 | 270.731 | 274.555 | 282.070 | 290.707 | 298.460 |