According to the U.S. Bureau of Labor Statistics, prices for tuition, other school fees, and childcare are 18.33% higher in 2021 versus 2014 (a $3.67 difference in value).
Between 2014 and 2021: Tuition, other school fees, and childcare experienced an average inflation rate of 2.43% 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 $23.67 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.87% 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 2014-2021 time period. Compared to inflation for all items in 2014 (1.62%), inflation for tuition, other school fees, and childcare was higher.
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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tuition, other school fees, and childcare: