According to the U.S. Bureau of Labor Statistics, prices for education are 1.97% higher in 2022 versus 2021 (a $0.39 difference in value).
Between 2021 and 2022: Education experienced an average inflation rate of 1.97% per year. In other words, education costing $20 in the year 2021 would cost $20.39 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 6.83% during this same period, inflation for education was significantly lower.
In the year 2021: Pricing changed by 1.41%, which is below the average yearly change for education during the 2021-2022 time period. Compared to inflation for all items in 2021 (4.70%), inflation for education was much lower.
Below are calculations of equivalent buying power for Education, over time, for $20 beginning in 2021. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Education: