According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions were 28.02% higher in 2020 versus 2008 (a $5.60 difference in value).
Between 2008 and 2020: Fees for lessons or instructions experienced an average inflation rate of 2.08% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2008 would cost $25.60 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.55% during this same period, inflation for fees for lessons or instructions was higher.
In the year 2008: Pricing changed by 3.36%, which is above the average yearly change for fees for lessons or instructions during the 2008-2020 time period. Compared to inflation for all items in 2008 (3.84%), inflation for fees for lessons or instructions was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Fees for lessons or instructions:
Below are calculations of equivalent buying power for Fees for lessons or instructions, over time, for $20 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|