According to the U.S. Bureau of Labor Statistics, prices for education and communication are 2.35% higher in 2022 versus 2020 (a $28,190.09 difference in value).
Between 2020 and 2022: Education and communication experienced an average inflation rate of 1.17% per year. In other words, education and communication costing $1,200,000 in the year 2020 would cost $1,228,190.09 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 5.91% during this same period, inflation for education and communication was significantly lower.
In the year 2020: Pricing changed by 1.82%, which is above the average yearly change for education and communication during the 2020-2022 time period. Compared to inflation for all items in 2020 (1.23%), 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 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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 and communication: