According to the U.S. Bureau of Labor Statistics, prices for education were 178.24% higher in 2020 versus 2016 (a $35.65 difference in value).
Between 2016 and 2020: Education experienced an average inflation rate of 29.15% per year. This rate of change indicates significant inflation. In other words, education costing $20 in the year 2016 would cost $55.65 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.90% during this same period, inflation for education was significantly higher.
In the year 2016: Pricing changed by 0%, which is significantly below the average yearly change for education during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for education was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Education:
Below are calculations of equivalent buying power for Education, 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|