Fees for lessons or instructions price inflation, 2022→2023

Fees For Lessons Or Instructions Inflation Calculator

Prices for Fees For Lessons Or Instructions, 2022-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions were 9.16% higher in 2023 versus 2022 (a $1.83 difference in value).

Between 2022 and 2023: Fees for lessons or instructions experienced an average inflation rate of 9.16% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2022 would cost $21.83 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 4.12% during this same period, inflation for fees for lessons or instructions was significantly higher.

In the year 2022: Pricing changed by 3.26%, which is significantly below the average yearly change for fees for lessons or instructions during the 2022-2023 time period. Compared to inflation for all items in 2022 (8%), inflation for fees for lessons or instructions was much lower.

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%).

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Buying power of $20.00 since 2022

Below are calculations of equivalent buying power for Fees for lessons or instructions, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2022	$20.00	3.26%
2023	$21.83	9.16%
2024	$22.25	1.91%*

* 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	390.869

Adjust fees for lessons or instructions prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2022 * 2022 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Fees for lessons or instructions was 351.368 in the year 2022 and 383.536 in 2023:

383.536 / 351.368 * $20 = $21.83

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $21.83 in 2023 (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.