According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions were 6.04% higher in 2021 versus 2019 (a $1.21 difference in value).
Between 2019 and 2021: Fees for lessons or instructions experienced an average inflation rate of 2.97% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2019 would cost $21.21 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.05% during this same period, inflation for fees for lessons or instructions was higher.
In the year 2019: Pricing changed by 2.24%, which is below the average yearly change for fees for lessons or instructions during the 2019-2021 time period. Compared to inflation for all items in 2019 (1.81%), 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 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|