According to the U.S. Bureau of Labor Statistics, prices for tuition, other school fees, and childcare are 21.45% higher in 2024 versus 2016 (a $4.29 difference in value).
Between 2016 and 2024: Tuition, other school fees, and childcare experienced an average inflation rate of 2.46% per year. This rate of change indicates significant inflation. In other words, tuition, other school fees, and childcare costing $20 in the year 2016 would cost $24.29 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for tuition, other school fees, and childcare was lower.
In the year 2016: Pricing changed by 2.80%, which is above the average yearly change for tuition, other school fees, and childcare during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2016 | $20.00 | 2.80% |
| 2017 | $20.47 | 2.34% |
| 2018 | $20.94 | 2.29% |
| 2019 | $21.54 | 2.90% |
| 2020 | $21.97 | 1.96% |
| 2021 | $22.28 | 1.41% |
| 2022 | $22.88 | 2.71% |
| 2023 | $23.63 | 3.27% |
| 2024 | $24.29 | 2.80%* |
* 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 Tuition, other school fees, and childcare:
| Year | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 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 | 57.800 | 59.792 | 64.692 | 71.223 | 79.946 | 90.531 | 99.700 | 109.769 | 119.708 | 129.608 | 139.962 | 151.038 | 162.700 | 175.715 | 191.385 | 208.469 | 225.300 | 239.823 | 253.831 | 267.123 | 280.377 | 294.238 | 308.385 | 323.969 | 341.092 | 362.108 | 386.654 | 414.292 | 440.862 | 468.062 | 494.079 | 522.098 | 548.971 | 573.174 | 597.208 | 620.979 | 643.681 | 664.780 | 688.814 | 708.115 | 724.655 | 741.262 | 762.749 | 777.716 | 788.712 | 810.078 | 836.543 | 860.000 |