Education priced at $20 in 1998 $55.40 in 2020

Education Inflation Calculator

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Prices for Education, 1998-2020 ($20)

According to the U.S. Bureau of Labor Statistics, prices for education were 176.98% higher in 2020 versus 1998 (a $35.40 difference in value).

Between 1998 and 2020: Education experienced an average inflation rate of 4.74% per year. This rate of change indicates significant inflation. In other words, education costing $20 in the year 1998 would cost $55.40 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 2.12% during this same period, inflation for education was higher.

In the year 1998: Pricing changed by 0%, which is significantly below the average yearly change for education during the 1998-2020 time period. Compared to inflation for all items in 1998 (1.55%), inflation for education was lower.

Price Inflation for Education since 1993

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2018 (166.02%), 1994 (6.25%), and 1995 (5.72%).

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
CPI 78.367 83.267 88.033 92.667 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 97.300 258.840 265.840 269.497

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Buying power of $20 since 1998

Below are calculations of equivalent buying power for Education, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1998 $20.00 -
1999 $20.00 0.00%
2000 $20.00 0.00%
2001 $20.00 0.00%
2002 $20.00 0.00%
2003 $20.00 0.00%
2004 $20.00 0.00%
2005 $20.00 0.00%
2006 $20.00 0.00%
2007 $20.00 0.00%
2008 $20.00 0.00%
2009 $20.00 0.00%
2010 $20.00 0.00%
2011 $20.00 0.00%
2012 $20.00 0.00%
2013 $20.00 0.00%
2014 $20.00 0.00%
2015 $20.00 0.00%
2016 $20.00 0.00%
2017 $20.00 0.00%
2018 $53.20 166.02%
2019 $54.64 2.70%
2020 $55.40 1.38%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for education, 1998-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 1998 * 1998 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Education was 97.300 in the year 1998 and 269.497 in 2020:

269.497 / 97.300 * $20 = $55.40

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1998 has the same "purchasing power" as $55.40 in 2020 (in the CPI category of Education).


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

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