According to the U.S. Bureau of Labor Statistics, prices for tuition, other school fees, and childcare were 4.70% higher in 2020 versus 2018 (a $0.94 difference in value).
Between 2018 and 2020: Tuition, other school fees, and childcare experienced an average inflation rate of 2.32% per year. This rate of change indicates significant inflation. In other words, tuition, other school fees, and childcare costing $20 in the year 2018 would cost $20.94 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.27% during this same period, inflation for tuition, other school fees, and childcare was higher.
In the year 2018: Pricing changed by 2.29%, which is below the average yearly change for tuition, other school fees, and childcare during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for tuition, other school fees, and childcare was lower.
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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|