According to the U.S. Bureau of Labor Statistics, prices for education were 4.59% higher in 2020 versus 2018 (a $0.92 difference in value).
Between 2018 and 2020: Education experienced an average inflation rate of 2.27% per year. This rate of change indicates significant inflation. In other words, education costing $20 in the year 2018 would cost $20.92 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for education was higher.
In the year 2018: Pricing changed by 166.02%, which is significantly above the average yearly change for education during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for education was much higher.
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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|