Elementary and high school tuition and fees price inflation, 2020→2024

Elementary And High School Tuition And Fees Inflation Calculator

Prices for Elementary And High School Tuition And Fees, 2020-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for elementary and high school tuition and fees are 15.16% higher in 2024 versus 2020 (a $3.03 difference in value).

Between 2020 and 2024: Elementary and high school tuition and fees experienced an average inflation rate of 3.59% per year. This rate of change indicates significant inflation. In other words, elementary and high school tuition and fees costing $20 in the year 2020 would cost $23.03 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% during this same period, inflation for elementary and high school tuition and fees was lower.

In the year 2020: Pricing changed by 2.63%, which is below the average yearly change for elementary and high school tuition and fees during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for elementary and high school tuition and fees was higher.

Price Inflation for Elementary and high school tuition and fees since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1982 (12.31%), 1981 (12%), and 1980 (11.99%).

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Buying power of $20.00 since 2020

Below are calculations of equivalent buying power for Elementary and high school tuition and fees, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2020	$20.00	2.63%
2021	$20.52	2.58%
2022	$21.13	2.99%
2023	$22.06	4.42%
2024	$23.03	4.40%*

* 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 Elementary and high school tuition and fees:

Year	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	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	2023	2024
CPI	57.600	59.331	64.600	72.346	81.031	91.008	99.615	109.354	119.062	129.238	141.292	154.585	167.962	182.808	198.031	213.662	228.931	242.631	259.223	272.815	288.100	307.892	327.315	349.892	372.615	398.415	424.892	453.500	483.169	511.223	539.442	570.583	600.396	624.473	648.102	671.214	695.784	722.824	750.706	777.085	804.950	838.132	868.069	890.926	913.880	941.174	982.741	1025.961

Adjust elementary and high school tuition and fees prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2020 * 2020 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Elementary and high school tuition and fees was 890.926 in the year 2020 and 1025.961 in 2024:

1025.961 / 890.926 * $20 = $23.03

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2020 has the same "purchasing power" as $23.03 in 2024 (in the CPI category of Elementary and high school tuition and fees).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Elementary and high school tuition and fees in 1977. In addition to elementary and high school tuition and fees, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.