Higher education inflation index rose 3.4%
Amy Dipierro
December 12, 2024
Costs for colleges and universities rose 3.4% last year, according to an index designed for higher education institutions, a slight decrease from the previous year that nonetheless remains elevated compared with the recent past.
The higher education price index, or HEPI, measures the relative price levels of goods and services typically purchased by colleges and universities as an alternative to the consumer price index, which is more useful for measuring household purchasing power. HEPI was up more than 3% between July 1, 2023, and June 30, 2024, down from 4% the previous year. The index remains above its annual average between 2010 and 2019, which was 2.2%.
HEPI is compiled by the Commonfund Institute, an asset management firm whose clients include college and university endowments. It includes typical school budget components including faculty, administrative, clerical and service employee salaries; benefits; supplies and materials; and utilities.
