According to the U.S. Bureau of Labor Statistics, prices for tuition, other school fees, and childcare were 12.67% higher in 2020 versus 2015 (a $2.53 difference in value).
Between 2015 and 2020: Tuition, other school fees, and childcare experienced an average inflation rate of 2.41% per year. This rate of change indicates significant inflation. In other words, tuition, other school fees, and childcare costing $20 in the year 2015 would cost $22.53 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.67% during this same period, inflation for tuition, other school fees, and childcare was higher.
In the year 2015: Pricing changed by 3.61%, which is above the average yearly change for tuition, other school fees, and childcare during the 2015-2020 time period. Compared to inflation for all items in 2015 (0.12%), inflation for tuition, other school fees, and childcare was much 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 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|