According to the U.S. Bureau of Labor Statistics, prices for tuition, other school fees, and childcare were 16.96% higher in 2020 versus 2014 (a $3.39 difference in value).
Between 2014 and 2020: Tuition, other school fees, and childcare experienced an average inflation rate of 2.64% per year. This rate of change indicates significant inflation. In other words, tuition, other school fees, and childcare costing $20 in the year 2014 would cost $23.39 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for tuition, other school fees, and childcare was higher.
In the year 2014: Pricing changed by 3.28%, which is above the average yearly change for tuition, other school fees, and childcare during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), 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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|