textbook price inflation

College Textbook Price Inflation 102% since 2001

textbook price inflation

 

For those of us who feel like the price of College Textbooks only ever goes in one direction, Bloomberg.com have posted a chart showing that the price of college textbooks has more than doubled since 2001, while the price of other books has gone down.

The above chart shows that textbook prices rose an astronomical 102% since December 2001, while fictional and other recreational types of books fell 1.5%, during which time the consumer price index, which measures the price of all goods and services rose 32%.

While textbooks for university and college classes remain among the most time consuming to  create from start to finish, it does raise the question of how certain publishers manage to justify rises of this magnitude. Especially considering the fact that advances in technology have opened up new mediums and therefore new sources of revenue as well as cheaper publishing options.

Hopefully, sites like this one can open up more avenues to keep education cheap and make it more accessible that it is currently becoming.