According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions were 4.08% higher in 2020 versus 2018 (a $0.82 difference in value).
Between 2018 and 2020: Fees for lessons or instructions experienced an average inflation rate of 2.02% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2018 would cost $20.82 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for fees for lessons or instructions was higher.
In the year 2018: Pricing changed by 2.77%, which is above the average yearly change for fees for lessons or instructions during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|