Back-to-School Inflation: How Much Will You Pay?

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Inflation
Inflation

As families start shopping for back-to-school supplies, they are facing sticker shock. Prices for everything from backpacks to lunchboxes are up, thanks to inflation.

A recent survey by the National Retail Federation found that parents expect to spend an average of $696.70 on back-to-school supplies this year, up 7.1% from last year. That’s the highest amount ever reported by the NRF.

The biggest price increases are for clothing, which is up 10.5%, and electronics, which is up 8.2%. Prices for school supplies are up 6.8%.

Parents are feeling the pinch, especially those with multiple children. One in four parents say they will have to cut back on other expenses to afford back-to-school supplies, according to the NRF survey.

Some parents are looking for ways to save money on back-to-school supplies. They are buying used clothes and supplies, shopping at discount stores, and using coupons.

Other parents are choosing to homeschool their children to save money on tuition.

The rising cost of back-to-school supplies is just one example of the impact of inflation on American families. Inflation is at a 40-year high, and it is making it difficult for families to make ends meet.

The Federal Reserve is expected to raise interest rates in an effort to curb inflation. However, it is unclear how effective this will be. In the meantime, families are bracing for sticker shock on everything from groceries to gas.

Here are some tips for parents on how to save money on back-to-school supplies:

  • Shop early. Stores often offer discounts on back-to-school supplies in the summer.
  • Buy in bulk. If you have multiple children, it can save money to buy supplies in bulk.
  • Look for coupons and discounts. There are many websites and apps that offer coupons for back-to-school supplies.
  • Consider buying used supplies. There are many websites and thrift stores that sell used back-to-school supplies.
  • Shop at discount stores. Discount stores often offer lower prices on back-to-school supplies than traditional retailers.
  • Consider homeschooling. If you can afford it, homeschooling can save you money on tuition, transportation, and other expenses.

It is important to be creative and resourceful when it comes to saving money on back-to-school supplies. With a little planning, you can save a significant amount of money.

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