According to the U.S. Bureau of Labor Statistics, prices for education are 191.57% higher in 2024 versus 1998 (a $38.31 difference in value).
Between 1998 and 2024: Education experienced an average inflation rate of 4.20% per year. This rate of change indicates significant inflation. In other words, education costing $20 in the year 1998 would cost $58.31 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for education was higher.
In the year 1998: Pricing changed by 4.96%, which is above the average yearly change for education during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for education was much higher.
Below are calculations of equivalent buying power for Education, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $20.00 | 4.96% |
| 1999 | $20.95 | 4.76% |
| 2000 | $22.04 | 5.20% |
| 2001 | $23.21 | 5.32% |
| 2002 | $24.67 | 6.29% |
| 2003 | $26.32 | 6.66% |
| 2004 | $28.15 | 6.96% |
| 2005 | $29.90 | 6.23% |
| 2006 | $31.75 | 6.17% |
| 2007 | $33.57 | 5.74% |
| 2008 | $35.51 | 5.77% |
| 2009 | $37.38 | 5.29% |
| 2010 | $39.04 | 4.44% |
| 2011 | $40.70 | 4.23% |
| 2012 | $42.37 | 4.12% |
| 2013 | $43.98 | 3.79% |
| 2014 | $45.43 | 3.29% |
| 2015 | $47.11 | 3.72% |
| 2016 | $48.48 | 2.91% |
| 2017 | $49.60 | 2.30% |
| 2018 | $50.70 | 2.22% |
| 2019 | $52.07 | 2.70% |
| 2020 | $53.03 | 1.84% |
| 2021 | $53.78 | 1.41% |
| 2022 | $55.25 | 2.74% |
| 2023 | $56.94 | 3.06% |
| 2024 | $58.31 | 2.41%* |
* 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 Education:
| Year | 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 | 78.369 | 83.277 | 88.023 | 92.677 | 97.285 | 102.108 | 106.969 | 112.531 | 118.515 | 125.969 | 134.362 | 143.715 | 152.669 | 162.085 | 171.388 | 181.277 | 190.857 | 199.337 | 207.768 | 216.328 | 224.521 | 231.914 | 240.535 | 247.526 | 253.211 | 258.840 | 265.840 | 270.731 | 274.555 | 282.070 | 290.707 | 297.716 |