Colleges Justify Tuition Hikes By Pointing To Inflation

Many universities are increasing tuition for the upcoming school year while pointing to record-high price levels.

Inflation reached 8.3% as of last month, remaining near elevated levels last seen 40 years ago. The high prices coincide with the United States economy shrinking at a 1.5% annualized rate in the first quarter of 2022 — representing the only quarter with negative growth since COVID-19 hit the United States. As a result, some economists are warning of stagflation — a reference to the sluggish economic growth and high inflation that characterized the late 1970s under President Jimmy Carter.