According to Commonfund Institute's latest update, HEPI forecasts a 3.6 percent inflation rate for U.S. colleges and universities in fiscal year 2026. The latest forecast, based on data through May 4, 2026, predicts no change 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.