Fees for lessons or instructions price inflation, 2020→2024

Fees For Lessons Or Instructions Inflation Calculator

Prices for Fees For Lessons Or Instructions, 2020-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions are 21.41% higher in 2024 versus 2020 (a $4.28 difference in value).

Between 2020 and 2024: Fees for lessons or instructions experienced an average inflation rate of 4.97% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2020 would cost $24.28 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% during this same period, inflation for fees for lessons or instructions was higher.

In the year 2020: Pricing changed by 1.81%, which is significantly below the average yearly change for fees for lessons or instructions during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for fees for lessons or instructions was higher.

Price Inflation for Fees for lessons or instructions since 1986

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2023 (9.16%), 1990 (7.04%), and 1989 (6.77%).

View price changes for other categories
Denver, Colorado · Bananas · Milk · Jewelry · More

Buying power of $20.00 since 2020

Below are calculations of equivalent buying power for Fees for lessons or instructions, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2020	$20.00	1.81%
2021	$20.95	4.76%
2022	$21.64	3.26%
2023	$23.62	9.16%
2024	$24.28	2.82%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Fees for lessons or instructions:

Year	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	100.000	102.015	107.354	114.623	122.692	130.023	135.285	141.908	149.300	154.469	160.569	168.785	175.969	183.931	188.423	195.600	203.523	212.754	221.369	228.508	235.969	245.485	253.722	261.232	265.137	268.651	271.887	277.102	281.195	287.430	293.075	303.645	312.067	319.044	324.807	340.282	351.368	383.536	394.355

Adjust fees for lessons or instructions prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2020 * 2020 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Fees for lessons or instructions was 324.807 in the year 2020 and 394.355 in 2024:

394.355 / 324.807 * $20 = $24.28

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2020 has the same "purchasing power" as $24.28 in 2024 (in the CPI category of Fees for lessons or instructions).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Fees for lessons or instructions in 1986. In addition to fees for lessons or instructions, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.