According to the U.S. Bureau of Labor Statistics, prices for fees for lessons or instructions are 40.10% higher in 2024 versus 2014 (a $8.02 difference in value).
Between 2014 and 2024: Fees for lessons or instructions experienced an average inflation rate of 3.43% per year. This rate of change indicates significant inflation. In other words, fees for lessons or instructions costing $20 in the year 2014 would cost $28.02 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for fees for lessons or instructions was higher.
In the year 2014: Pricing changed by 1.48%, which is below the average yearly change for fees for lessons or instructions during the 2014-2024 time period. Compared to inflation for all items in 2014 (1.62%), inflation for fees for lessons or instructions was lower.
Below are calculations of equivalent buying power for Fees for lessons or instructions, over time, for $20 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2014 | $20.00 | 1.48% |
| 2015 | $20.44 | 2.22% |
| 2016 | $20.84 | 1.96% |
| 2017 | $21.60 | 3.61% |
| 2018 | $22.20 | 2.77% |
| 2019 | $22.69 | 2.24% |
| 2020 | $23.10 | 1.81% |
| 2021 | $24.20 | 4.76% |
| 2022 | $24.99 | 3.26% |
| 2023 | $27.28 | 9.16% |
| 2024 | $28.02 | 2.72%* |
* 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 Fees for lessons or instructions:
| Year | 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 | 100.000 | 102.015 | 107.354 | 114.623 | 122.692 | 130.023 | 135.285 | 141.908 | 149.300 | 154.469 | 160.569 | 168.785 | 175.969 | 183.931 | 188.423 | 195.600 | 203.523 | 212.754 | 221.369 | 228.508 | 235.969 | 245.485 | 253.722 | 261.232 | 265.137 | 268.651 | 271.887 | 277.102 | 281.195 | 287.430 | 293.075 | 303.645 | 312.067 | 319.044 | 324.807 | 340.282 | 351.368 | 383.536 | 393.960 |