[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-583554-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-583554-en":130},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","commonfund-higher-education-price-index-2019-update","Commonfund Higher Education Price Index - 2019 Update","","Commonfund Higher Education Price Index (HEPI) reports college and university inflation for fiscal year 2019, showing an overall rate of 2.5%. The update compares 2019 results with FY2017–FY2018 and highlights shifts across eight tracked cost components. Moderation is attributed largely to reduced inflation in the single largest index element, faculty salaries. 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Commonfund Institute is dedicated to the advancement of investment knowledge and the promotion of best practices in financial management. It provides a wide variety of resources, including conferences, seminars and roundtables on topics such as endowments and governance; proprietary and third-party research such as the Commonfund Benchmark Studies®; publications includingthe Commonfund Higher Education Price Index® (HEPI); and events such as the annual Commonfund Forum and Investment Stewardship Academy.  \nExecutive Summary  \nCommonfund Higher Education Price Index (HEPI) data show that inflation for colleges and universities was 2.5 percent for fiscal year 2019, a decline from the two previous years when prices rose 2.9 percent and 3.4 percent for FY2018 and FY2017, respectively. Of the last five years, FY2019 represented the third-highest HEPI inflation rate, as the rate for FY2015 was 2.0 percent and for FY2016 it was 1.4 percent.  \nOf the eight components tracked by HEPI, FY2019 costs rose in three of the eight components tracked by HEPI, declined in four and were unchanged in one. Overall, cost increases moderated compared with last year owing in large part to a decline in the inflation rate for faculty salaries, which is the single largest component in the index. Faculty salaries—the most heavily-weighted HEPI component at 35 percent of the index—showed the second largest reduction in its inflation rate, rising 2.0 percent in FY2019 versus 2.8 percent in FY2018; utilities tied with faculty salaries, rising 0.9 percent in FY2019 and 1.7 percent in FY2018 . The other component to decline in its rate of inflation was supplies and materials, which rose 4.1 percent in FY2019 compared with 4.3 percent in FY2018 . Fringe benefits showed the greatest reduction in its inflation rate, rising 2.4 percent in FY2019 versus  \n3.5 percent in FY2018 .1 The miscellaneous services component was unchanged, rising 2.4 percent in both fiscal years.  \nThe second-largest component of the index, clerical costs at an 18 percent weight, rose 3.5 percent in FY2019, up from 2.9 percent in FY2018 . Administrative salaries, representing 11 percent of the index, rose 2.4 percent, once again a modest change compared with last year’s 2.2 percent. After that in weighting, service employee costs at 8 percent showed the highest increase of the  \neight HEPI components, tied with clerical costs of 60 basis points, rising 4.0 percent after a 3.4 percent increase in FY2018 .  \nAbout HEPI  \nThe Higher Education Price Index (HEPI) is an inflation index designed specifically for use by institutions of higher education. Compiled from data reported by government agencies and industry sources, HEPI measures the average relative level in the price of a fixed market basket of goods and services purchased by colleges and universities each year through current fund educational and general expenditures, excluding research. A more accurate indicator of cost changes for colleges and universities than the Consumer Price Index (CPI), HEPI is used primarily to project future budget increases required to preserve purc","cbCainWSnjOBYnv3","https://ap.wps.com/l/cbCainWSnjOBYnv3","pdf",904273,16,"English","# Higher Education Price Index Introduction\n## Executive Summary\n## About HEPI\n## The HEPI Tables\n# Higher Education Price Index Analysis\n## HEPI for 2019\n## Highlights of 2019 Study\n## Supporting Data\n## 5-Year Changes in Cost Factors\n## HEPI for FY2019 versus a 5-Year Average\n## Sensitivity Analysis of the 8 HEPI Regression Components\n## Sensitivity of HEPI to a 5 Percent Increase in Faculty Salaries or Miscellaneous Services\n## About Commonfund Institute","[{\"question\":\"What inflation level does HEPI report for fiscal year 2019?\",\"answer\":\"HEPI reports inflation for colleges and universities of 2.5% for fiscal year 2019, down from 2.9% in FY2018 and 3.4% in FY2017.\"},{\"question\":\"Which cost component contributed most to the moderation in 2019 inflation?\",\"answer\":\"Faculty salaries are the largest HEPI component (35% weight) and drove much of the moderation due to a lower inflation rate in FY2019 versus FY2018.\"},{\"question\":\"How does HEPI define what it measures and how it is used?\",\"answer\":\"HEPI is designed for higher education institutions and measures relative price changes for a fixed market basket using current fund education and general expenditures, excluding research. It is used to project future budget increases needed to preserve purchasing power.\"}]","Commonfund Higher Education Price Index - 2019 Update | PDF",1792047663]