According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions were 15.45% higher in 2021 versus 2016 (a $3.09 difference in value).
Between 2016 and 2021: Fees for lessons or instructions experienced an average inflation rate of 2.91% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2016 would cost $23.09 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.74% during this same period, inflation for fees for lessons or instructions was higher.
In the year 2016: Pricing changed by 1.96%, which is below the average yearly change for fees for lessons or instructions during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|