Source: Jeff Greenberg / Getty
While it seems school just let out for the summer, many students will be going back next month. Unfortunately for parents, they may be paying more for school supplies.
According to Deloitte’s back-to-school survey, the average parent plans to spend at least $600 on school supplies. This is an 8% increase since last year.
This year, supply prices are expected to soar. Another Deloitte survey predicts that supply spending will reach more than $34 billion, up 24% since 2019.
While prices may be up, many parents say they will find a way to pay.
“What’s really interesting to us is parents are going to make it happen,” Rod Sides with Deloitte Insights said. “We’re seeing them dip into the savings that they’ve maintained over the last couple of years to be able to make sure kids get off to the right start.”
Back-to-school supply drives will be happening around the Charlotte area soon.
