2008 Woodie Awards
Letter to the Editor: Tracking statistics for textbook prices
Richard Hershman
Issue date: 1/17/08 Section: Commentary
Your editorial on textbook prices came across my desk this morning. You make some very good observations and recommendations.
I did want to bring to your attention that the Bureau of Labor Statistics does track the consumer price index for college textbooks only, as does the producer price index for college textbooks. Consumer price increases generally trail behind at a lower rate than the publisher price increases.
The Bureau of Labor Statistics did not release the consumer price index data until a few years ago (following the release of the GAO study, where, as you point out they did a special analysis that found that the rate of increase for textbooks was 6 percent, or about twice the rate of regular inflation, but below the rate of increase for tuition and fees).
We saw a dip in the consumer price index in 2003 and 2004 at around 4 percent increases, which means that for the last five years, we are seeing consumer price increases around 5.75 percent (though the 2007 figures are not final as they haven't posted December yet).
Similar studies can be done on the producer price index front. Keep in mind, however, that the producer price index data is preliminary for the last four months reported, so the 2007 numbers are preliminary. If they hold up, during the same five-year period between 2003 and 2007, the publisher prices went up on average 7.1 percent per year.
Richard Hershman
Director of government relations
National Association of College Booktores
I did want to bring to your attention that the Bureau of Labor Statistics does track the consumer price index for college textbooks only, as does the producer price index for college textbooks. Consumer price increases generally trail behind at a lower rate than the publisher price increases.
The Bureau of Labor Statistics did not release the consumer price index data until a few years ago (following the release of the GAO study, where, as you point out they did a special analysis that found that the rate of increase for textbooks was 6 percent, or about twice the rate of regular inflation, but below the rate of increase for tuition and fees).
We saw a dip in the consumer price index in 2003 and 2004 at around 4 percent increases, which means that for the last five years, we are seeing consumer price increases around 5.75 percent (though the 2007 figures are not final as they haven't posted December yet).
Similar studies can be done on the producer price index front. Keep in mind, however, that the producer price index data is preliminary for the last four months reported, so the 2007 numbers are preliminary. If they hold up, during the same five-year period between 2003 and 2007, the publisher prices went up on average 7.1 percent per year.
Richard Hershman
Director of government relations
National Association of College Booktores
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