According to the U.S. Bureau of Labor Statistics, prices for tuition, other school fees, and childcare were 7.09% higher in 2020 versus 2017 (a $1.42 difference in value).
Between 2017 and 2020: Tuition, other school fees, and childcare experienced an average inflation rate of 2.31% per year. This rate of change indicates significant inflation. In other words, tuition, other school fees, and childcare costing $20 in the year 2017 would cost $21.42 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.66% during this same period, inflation for tuition, other school fees, and childcare was higher.
In the year 2017: Pricing changed by 2.34%, which is above the average yearly change for tuition, other school fees, and childcare during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), 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 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|