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The report compares HEPI with the Consumer Price Index, discusses component-level movements such as utilities, supplies, faculty salaries, and service costs, and explains HEPI’s purpose and use for planning future budget increases to preserve purchasing power.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & Report",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/commonfund-higher-education-price-index-2024-update/584026/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/commonfund-higher-education-price-index-2024-update/584026.png","ImageObject",300,407,{"name":42,"@type":43},"\tCallum ","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-29","2026-10-15",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",9,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What does HEPI measure and how is it used by colleges and universities?","Question",{"text":63,"@type":64},"HEPI measures the average price level change of a fixed basket of goods and services purchased by colleges and universities each year through educational and general expenditures (excluding research). Schools use it primarily to project future budget increases needed to preserve purchasing power.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How much did costs change in FY2024 according to HEPI?",{"text":68,"@type":64},"Costs for the market basket increased at an annual rate of 3.4 percent in FY2024, compared with 4.0 percent in FY2023 and 5.2 percent in FY2022.",{"name":70,"@type":61,"acceptedAnswer":71},"How does HEPI compare with the Consumer Price Index (CPI) in FY2024?",{"text":72,"@type":64},"In FY2024, HEPI shows costs rising 3.4 percent, while CPI rose 3.3 percent. 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While inflation rates in fiscal year 2024 have tempered enough for the Federal Reserve to begin easing interest rates, the impact on institutions, students, and the broader economy are still being felt.  \nCommonfund understands the importance of having accurate and relevant data to support good governance and help address the challenges and uncertainties institutions encounter. After a period of heightened inflation across the biggest budget items for institutions such as faculty and administrative salaries and benefits, it is even more important for inflation measures to match the job at hand. However, measures of the price increases borne by consumers are vastly different from those impacting the operating budgets of educational institutions. Due to this fact, Commonfund’s annual Higher Education Price Index (HEPI) may be the most accurate predictor of changes in costs for educational institutions since it isolates costs most relevant to the operation of these types of organizations.  \nAs this year’s HEPI report shows, costs for a market basket of items comprising operating budgets increased at an annual rate of 3.4 percent in FY2024 compared with 4.0 percent in FY2023 . As the report explores in depth, inflation is easing, but for educational institutions, it is still well above the prior decade’s norm. We anticipate the trifecta of higher costs, market volatility, and enrollment challenges will be top of mind for years to come.  \nGiven our commitment to providing you with the most useful information, earlier this year we launched an initiative to assess the HEPI methodology to help ensure that HEPI in every way measures up its purpose. On behalf of our team and the broader community of HEPI users, thank you to those who contributed to that effort. We are grateful for the feedback we continue to receive on the importance of HEPI each year and are committed to ensuring its value to this community.  \nGeorge Suttles Executive Director Commonfund Institute  \nCommonfund Higher Education Price Index | 2024 Update  \nTable of Contents  \nHIGHER EDUCATION PRICE INDEX (HEPI) INTRODUCTION 1  HEPI ANALYSIS 5  HEPI FOR DIFFERENT TYPES OF  \nEDUCATIONAL INSTITUTIONS 11  HEPI FOR DIFFERENT REGIONS OF THE COUNTRY 15  LIMITATIONS AND OPPORTUNITIES OF HEPI BY INSTITUTIONAL TYPE AND REGION 17  PURCHASING POWER AND SALARIES OF  \nFULL-TIME PROFESSORS 17  SOURCES 20  HEPI DESIGN AND USE 21  HEPI QUESTIONS AND ANSWERS 23  IMPORTANT NOTES 25   \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 | 2024 Update  \nHigher Education Price Index Introduction  \nExecutive Summary  \nCommonfund's Higher Education Price Index® (HEPI) data show that costs for colleges and universities rose 3.4 percent in FY2024, a decreased rate of inflation compared with 4.0 in FY2023 and 5.2 percent in FY2022 . (FY2024 covers the period from July 1, 2023, to June 30, 2024, and coincides with the budget year of most educational institutions.)  \nThis year continues a tempering of price increases, falling 35 percent from 5.2 percent in FY2022, which h","cbCaieXBwxetIa93","https://ap.wps.com/l/cbCaieXBwxetIa93","pdf",1958566,"English","# Higher Education Price Index (HEPI) Introduction\n## Executive Summary\n# HEPI Analysis\n# HEPI for Different Types of Educational Institutions\n# HEPI 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# Sources\n# HEPI Design and Use\n# HEPI Questions and Answers\n# Important Notes","[{\"question\":\"What does HEPI measure and how is it used by colleges and universities?\",\"answer\":\"HEPI measures the average price level change of a fixed basket of goods and services purchased by colleges and universities each year through educational and general expenditures (excluding research). Schools use it primarily to project future budget increases needed to preserve purchasing power.\"},{\"question\":\"How much did costs change in FY2024 according to HEPI?\",\"answer\":\"Costs for the market basket increased at an annual rate of 3.4 percent in FY2024, compared with 4.0 percent in FY2023 and 5.2 percent in FY2022.\"},{\"question\":\"How does HEPI compare with the Consumer Price Index (CPI) in FY2024?\",\"answer\":\"In FY2024, HEPI shows costs rising 3.4 percent, while CPI rose 3.3 percent. The report notes this return toward the norm and that HEPI has exceeded CPI in most of the past decade.\"}]","Commonfund Higher Education Price Index - 2024 Update | PDF",1792049546,76]