According to Commonfund Institute's latest update, HEPI forecasts a 3.5 percent inflation rate for U.S. colleges and universities in fiscal year 2026. The latest forecast, based on data through August 27, 2026, predicts a slight decline from last year's 3.6 percent inflation rate. The HEPI estimate is calculated with year-to-date publicly available data points coupled with a forecast of remaining numbers based on historical data. The final HEPI number for fiscal year 2026 will be available before calendar year end. Download the detailed estimated data.