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The FY2022 market basket rose 5.2% annually versus 2.7% in FY2021 and 1.9% in FY2020, the steepest increase since 6.0% in 2001. Utilities plus supplies and materials led the gains, while faculty salaries increased modestly at 2.1%. HEPI’s rise is also compared with the Consumer Price Index, noting when CPI temporarily outpaced HEPI.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/commonfund-higher-education-price-index-2022-update/583796/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/commonfund-higher-education-price-index-2022-update/583796.png","ImageObject",300,407,{"name":92,"@type":93},"Connor ","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-29","2026-10-15",true,{"@type":102,"interactionType":103,"userInteractionCount":34},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What does HEPI measure for higher education institutions?","Question",{"text":112,"@type":113},"HEPI is designed specifically for higher education and measures average relative price changes for a fixed market basket of goods and services purchased through educational and general expenditures, excluding research.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How much did operating-budget relevant costs increase in FY2022?",{"text":117,"@type":113},"Costs increased at an annual rate of 5.2% in FY2022, compared with 2.7% in FY2021 and 1.9% in FY2020.",{"name":119,"@type":110,"acceptedAnswer":120},"How does HEPI’s inflation compare with the Consumer Price Index (CPI) in FY2022?",{"text":121,"@type":113},"In FY2022, HEPI rose 5.2% while CPI rose 7.2%. CPI exceeded HEPI for the first time since FY2013, with only a 0.1% difference.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},583796,1792192347,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":34,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},687207022233,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","Commonfund Higher Education Price Index  \n2022 Update  \nWelcome  \nHistory making or a footnote to history? That is the question that inflation in FY2022 poses for decision-makers at colleges and universities across the country. Will FY2022 trigger an era when inflation becomes embedded not only in the real economy but also in people’s psyches? (Inflation data from the late 1970s and early ‘80s spring to mind.) Or will FY2022 belittle more than an aberration, a period when inflation was relatively quickly contained by resolve on the part of the Federal Reserve, as was the case 40 years ago? (Fed Chair Paul Volcker engineered the record high interest rates that tamed inflation and ignited the equity boom in 1982.)  \nTime will tell. But when it comes to inflation, time is not on one’s side. The longer it continues, the more painful it becomes. Trustees and senior staff at institutions of higher education need to make decisions today, in real time. That’s why hard data about how inflation is impacting their institutions becomes a vital resource for boards and committees. Year in, year out, regardless of the inflationary environment, Commonfund’s annual Higher Education Price Index (HEPI) delivers that data … data that is especially valuable because it focuses solely on those costs relevant to the operating budgets found in higher ed.  \nAs this year’s report shows, costs for a market basket of items making up those operating budgets increased at an annual rate of 5.2 percent in FY2022 compared with 2.7 percent in FY2021 (and 1.9 percent in FY2020) . From a long-term perspective, it was the steepest annual increase in HEPI since 6.0 percent in 2001. This is not welcome data, but it does make clear the need to discuss and weigh matters related to inflation just like other high priority agenda topics.  \nWe are gratified by the feedback we receive every year, as it confirms that HEPI serves as the valuable tool we intend it to be. We remain committed to keeping it that way in the future regardless of whether inflation is temperate or testing.  \nGeorge Suttles Executive Director Commonfund Institute  \nCommonfund Higher Education Price Index | 2022 Update  \nTable of Contents  \nHIGHER EDUCATION PRICE INDEX INTRODUCTION 1   \nHIGHER EDUCATION PRICE INDEX ANALYSIS 5   \nHIGHER EDUCATION PRICE INDEX FOR DIFFERENT  \nTYPES OF EDUCATIONAL INSTITUTIONS 12  HIGHER EDUCATION PRICE INDICES FOR DIFFERENT  \nREGIONS OF THE COUNTRY 16  LIMITATIONS AND OPPORTUNITIES OF HEPI BY INSTITUTIONAL TYPE AND REGION 19  PURCHASING POWER AND SALARIES OF FULL-TIME PROFESSORS 20  HEPI DESIGN AND USE 23  HEPI QUESTIONS AND ANSWERS 25  SOURCES 27  IMPORTANT NOTES 28   \nAbout Commonfund Institute  \nCommonfund Institute is among the nation’s most trusted sources for relevant, useful, and proprietary data, analytics, and best practices in financial management. The Institute provides a wide variety of resources, including conferences, seminars, roundtables, and online learning through Commonfund Institute Online. Insights cover topics such as endowments and governance; proprietary and third-party research such as the Commonfund Benchmark Studies®; publications including the Commonfund Higher Education Price Index® (HEPI); and events such as the annual Commonfund Forum and Investment Stewardship Academy.  \nCommonfund Higher Education Price Index | 2022 Update  \nHigher Education Price Index Introduction  \nExecutive Summary  \nCommonfund Higher Education Price Index® (HEPI) data show that costs for colleges and universities rose 5.2 percent in FY2022, an increased rate of inflation compared with 2.7 percent in FY2021 and 1.9 percent in FY2020 .(FY2022 covers the period from July 1, 2021, to June 30, 2022, and coincides with the budget year of most institutions of higher education.)  \nThe 5.2 percent increase for FY2022 is the highest since the 6.0 percent rise for FY2001, and it slightly exceeds 5.1 percent increases in fiscal years 2003 and 2006.  \nFrom a historical perspectiv","cbCaigxDEai6WtQQ","https://ap.wps.com/l/cbCaigxDEai6WtQQ","pdf",919012,32,"English","# Higher Education Price Index Introduction\n## Executive Summary\n# Higher Education Price Index Analysis\n# Higher Education Price Index for Different Types of Educational Institutions\n# Higher Education Price Indices for Different Regions of the Country\n# Limitations and Opportunities of HEPI by Institutional Type and Region\n# Purchasing Power and Salaries of Full-Time Professors\n# HEPI Design and Use\n# HEPI Questions and Answers\n# Sources\n# Important Notes","[{\"question\":\"What does HEPI measure for higher education institutions?\",\"answer\":\"HEPI is designed specifically for higher education and measures average relative price changes for a fixed market basket of goods and services purchased through educational and general expenditures, excluding research.\"},{\"question\":\"How much did operating-budget relevant costs increase in FY2022?\",\"answer\":\"Costs increased at an annual rate of 5.2% in FY2022, compared with 2.7% in FY2021 and 1.9% in FY2020.\"},{\"question\":\"How does HEPI’s inflation compare with the Consumer Price Index (CPI) in FY2022?\",\"answer\":\"In FY2022, HEPI rose 5.2% while CPI rose 7.2%. CPI exceeded HEPI for the first time since FY2013, with only a 0.1% difference.\"}]","Commonfund Higher Education Price Index - 2022 Update | PDF",1792048440,81]