Families paying for college tuition have been hardest hit by inflation

by Grace

It’s clear to see which group has been hurt the most by rising inflation over the last 30 years.

20130426.COCConsumerPricesCollege1

Inflation disproportionately affects specific groups of people, with families paying college tuition among those who have been hit the hardest.

The increase has been ‘staggering’.

According to the Bureau of Labor Statistics, while the Consumer Price Index for all urban consumers (CPI-U) has risen 179 percent since 1980, college tuition and fees have increased nearly five times more— a staggering 893 percent.

If we use our imagination and apply the staggering inflation rate of higher education to other consumer items, it would mean that a pair of jeans that cost $12 in 1980 would cost about $120 today, and a house that sold for $125,000 back then would sell for about $1.2 million today.  The unfortunate reality is that college tuition of $1,600 in 1980 is priced at about $16,000 today.

HT Joanne Jacobs

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One Comment to “Families paying for college tuition have been hardest hit by inflation”

  1. Reblogged this on the amateur academic and commented:
    An incredibly informative infographic showing the staggering rate of inflation of college tuition relative to other costs. I knew college had gotten expensive, but this really puts it into perspective.

    Like

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