According to the U.S. Bureau of Labor Statistics, prices for education were 1.84% higher in 2020 versus 2019 (a $0.37 difference in value).
Between 2019 and 2020: Education experienced an average inflation rate of 1.84% per year. In other words, education costing $20 in the year 2019 would cost $20.37 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.23% during this same period, inflation for education was higher.
In the year 2019: Pricing changed by 2.70%, which is above the average yearly change for education during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), inflation for education was higher.
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 | 270.731 |
Below are calculations of equivalent buying power for Education, over time, for $20 beginning in 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2019 | $20.00 | 2.70% |
2020 | $20.37 | 1.84%* |