According to the U.S. Bureau of Labor Statistics, prices for education and communication were 24.44% higher in 2021 versus 2005 (a $293,333.72 difference in value).
Between 2005 and 2021: Education and communication experienced an average inflation rate of 1.38% per year. In other words, education and communication costing $1,200,000 in the year 2005 would cost $1,493,333.72 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.88% during this same period, inflation for education and communication was lower.
In the year 2005: Pricing changed by 1.90%, which is above the average yearly change for education and communication during the 2005-2021 time period. Compared to inflation for all items in 2005 (3.39%), inflation for education and communication was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Education and communication:
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 |
CPI | 85.567 | 88.867 | 92.233 | 95.392 | 98.492 | 100.275 | 101.183 | 102.533 | 105.242 | 107.892 | 109.792 | 111.567 | 113.692 | 116.750 | 119.573 | 123.628 | 127.395 | 129.924 | 131.466 | 133.845 | 135.886 | 137.514 | 138.203 | 139.133 | 136.508 | 136.788 | 137.792 | 140.303 | 141.483 |
Below are calculations of equivalent buying power for Education and communication, over time, for $1200000 beginning in 2005. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2005 | $1,200,000.00 | 1.90% |
2006 | $1,232,280.29 | 2.69% |
2007 | $1,262,076.67 | 2.42% |
2008 | $1,304,881.92 | 3.39% |
2009 | $1,344,641.21 | 3.05% |
2010 | $1,371,327.42 | 1.98% |
2011 | $1,387,607.42 | 1.19% |
2012 | $1,412,713.04 | 1.81% |
2013 | $1,434,257.27 | 1.53% |
2014 | $1,451,443.23 | 1.20% |
2015 | $1,458,717.29 | 0.50% |
2016 | $1,468,531.55 | 0.67% |
2017 | $1,440,823.28 | -1.89% |
2018 | $1,443,778.64 | 0.21% |
2019 | $1,454,381.00 | 0.73% |
2020 | $1,480,876.35 | 1.82% |
2021 | $1,493,333.72 | 0.84%* |