The cost of living for an average K-State student continues to increase more rapidly than the cost of living for the average American.
Representatives of the Kansas State University Economics Club said Tuesday that the 2012 Student Price Index (SPI), which the club compiles, increased by 3.7 percent from 2011. The U.S. Consumer Price Index increased by 2.0 percent for prices paid by urban consumers.
The indicators that increased in the SPI were gasoline (6.2 percent), groceries (5.4 percent), tuition (5.5 percent), beer (4.9 percent), housing (5.2 percent), movies (2.8 percent) and internet (8 percent). Textbooks decreased by 0.8 percent. Pizza and ICAT tickets remained unchanged.
The SPI has increased by approximately 85 percent in the 10 years since the price index was established in October 2002. The CPI increased by 27.4 percent during that same period of time.