Education priced at $20 in 2022 $20.94 in 2024

Education Inflation Calculator

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Prices for Education, 2022-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for education are 4.68% higher in 2024 versus 2022 (a $0.94 difference in value).

Between 2022 and 2024: Education experienced an average inflation rate of 2.31% per year. This rate of change indicates significant inflation. In other words, education costing $20 in the year 2022 would cost $20.94 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.11% during this same period, inflation for education was lower.

In the year 2022: Pricing changed by 2.74%, which is above the average yearly change for education during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for education was much lower.

Price Inflation for Education since 1993

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2004 (6.96%), 2003 (6.66%), and 2002 (6.29%).

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Buying power of $20.00 since 2022

Below are calculations of equivalent buying power for Education, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2022$20.002.74%
2023$20.613.06%
2024$20.941.57%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Education:

Year19931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI78.36983.27788.02392.67797.285102.108106.969112.531118.515125.969134.362143.715152.669162.085171.388181.277190.857199.337207.768216.328224.521231.914240.535247.526253.211258.840265.840270.731274.555282.070290.707295.274

Adjust education prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2022 * 2022 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Education was 282.070 in the year 2022 and 295.274 in 2024:

295.274 / 282.070 * $20 = $20.94

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $20.94 in 2024 (in the CPI category of Education).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Education in 1993. In addition to education, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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