According to the U.S. Bureau of Labor Statistics, prices for education and communication are 3.82% higher in 2022 versus 2015 (a $45,826.07 difference in value).
Between 2015 and 2022: Education and communication experienced an average inflation rate of 0.54% per year. In other words, education and communication costing $1,200,000 in the year 2015 would cost $1,245,826.07 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.84% during this same period, inflation for education and communication was lower.
In the year 2015: Pricing changed by 0.50%, which is below the average yearly change for education and communication during the 2015-2022 time period. Compared to inflation for all items in 2015 (0.12%), inflation for education and communication was higher.
Below are calculations of equivalent buying power for Education and communication, over time, for $1,200,000 beginning in 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Education and communication: