As back-to-school purchasing season picks up, households are grappling with larger costs on the whole lot from backpacks to pencils due to surging inflation.
State of play: Greater than half of households are planning to chop again on back-to-school purchasing this yr as a result of surging inflation, in line with a nationwide survey from actual property and retail administration agency JLL.
- Mother and father with budgets considerably affected by inflation plan to spend 15% much less on common.
- One-third of oldsters who say their budgets will not be affected by inflation say they plan to spend 31.5% greater than in 2021.
Between the strains: The value of faculty provides is being impacted by excessive power costs, elevated labor and transportation prices in addition to provide chain disruptions, mentioned Patrick Penfield, professor of provide chain apply at Syracuse College’s Whitman Faculty of Administration.
What they’re saying: “Mother and father will