The back to school season can be an exciting time for families but for some, it can be downright worrying.
According to findings shared with ESSENCE, the cost of school supplies in the US this year has soared over 25% compared to 2022, per a report from report from global remittance brand “WorldRem.” The data also showed that 40% of countries will pay more than their monthly income on school supplies this year.
The data estimated that on average, it will cost about $230 per child to furnish school supplies for them at the start of this school year. For clothing, like uniforms, it will cost households about $137. Dayton Daily News analyzed that the prices of back-to-school products have jumped by 9.8% this year compared to 2022, based on a DataWeave report that compared prices for 1,200 products across Amazon, Walmart, Target, and Kroger.
This comes as living costs for most necessities continue to climb as inflation fluctuates.
For example, as ESSENCE previously reported, listed rents across the country for available increased 15% from 2021, with the average rent price being above $2,000 a month across the county. Rent in cities like Austin, Seattle, and Cincinnati is up by 30%. The median asking price for rent in Los Angeles is $3,400.
Fortunately, there’s hope for cash-strapped households that need assistance with school supply purchases. Trying thrifts stores, discount school supply sites and the used section on Amazon can help cut costs.