According to the U.S. Bureau of Labor Statistics, prices for tuition, other school fees, and childcare were 57.39% higher in 2020 versus 2007 (a $11.48 difference in value).
Between 2007 and 2020: Tuition, other school fees, and childcare experienced an average inflation rate of 3.55% per year. This rate of change indicates significant inflation. In other words, tuition, other school fees, and childcare costing $20 in the year 2007 would cost $31.48 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.70% during this same period, inflation for tuition, other school fees, and childcare was higher.
In the year 2007: Pricing changed by 5.56%, which is above the average yearly change for tuition, other school fees, and childcare during the 2007-2020 time period. Compared to inflation for all items in 2007 (2.85%), inflation for tuition, other school fees, and childcare was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tuition, other school fees, and childcare:
Below are calculations of equivalent buying power for Tuition, other school fees, and childcare, over time, for $20 beginning in 2007. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|