According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions were 13% higher in 2020 versus 2015 (a $2.60 difference in value).
Between 2015 and 2020: Fees for lessons or instructions experienced an average inflation rate of 2.48% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2015 would cost $22.60 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.77% during this same period, inflation for fees for lessons or instructions was higher.
In the year 2015: Pricing changed by 2.22%, which is below the average yearly change for fees for lessons or instructions during the 2015-2020 time period. Compared to inflation for all items in 2015 (0.12%), inflation for fees for lessons or instructions was higher.
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 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|