By how much did the pace of tuition hikes (News, p. 132) exceed the 2013 rate of inflation (Table 7.2)?

TABLE 7.2: Price Changes in 2013

The average rate of inflation conceals substantial differences in the price changes of specific products. The impact of inflation on individuals depends in part on which goods and services are consumed. People who buy goods whose prices are rising fastest lose more real income. In 2013 college students and smokers were particularly hard-hit by inflation.

 

Prices That Rose (%) Prices That Fell (%) Oranges +9.1% Televisions -13.5% Bacon +7.7 Lettuce -11.7 Eggs Donuts +6.1 +3.6 -7.6 -7.5 Coffee College tuition Cigarettes Peanut butter Apples Air fares +3.5 -6.9 +3.4 -4.8 Text books +2.8 Ice cream -1.5 Average inflation rate: +1.6%