How much has the cost of living increased since 1989?

Since 1989, the cost of living in the United States has increased significantly, with inflation affecting various sectors, including housing, healthcare, and education. According to the Consumer Price Index (CPI), prices have roughly doubled over this period, reflecting an average inflation rate of about 2.5% annually. This means that what $1 could buy in 1989 typically requires around $2 today. The specific increase can vary widely depending on the region and the particular expenses considered.