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 |
---|---|---|
2021 | $20.00 | 1.41% |
2022 | $20.39 | 1.97%* |
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 | 2021 | 2022 |
CPI | 78.450 | 83.300 | 88.008 | 92.675 | 97.267 | 102.100 | 106.975 | 112.517 | 118.483 | 125.942 | 134.367 | 143.683 | 152.675 | 162.075 | 171.379 | 181.271 | 190.860 | 199.348 | 207.772 | 216.334 | 224.525 | 231.915 | 240.530 | 247.528 | 253.214 | 258.840 | 265.846 | 270.739 | 274.556 | 279.957 |