PHOENIX, Arizona — It doesn’t matter how old they are, if you have a kid getting ready to head back to class for the upcoming school year, you know how much those school supplies can add up.
It can easily be hundreds of a dollars a year, higher than ever because of inflation.
The cost of school supplies has spiked about 24% in the past couple years, leaving many parents in a bind.
Along with all the excitement of prepping for the first day of class, comes some anxiety for parents like Christina Lynn Carpenter. She has four kids to stock up with school supplies.
“I’m on a fixed income,” she said. “I get Social Security Disability.”
And Acquanetta Castaneda, who’s getting three of her grandchildren ready.
“Oh my gosh, they’ve gone up tremendously in price,” she said.
According to Deloitte’s annual survey, shoppers plan to spend 10% less per student this year. The biggest declines are on clothes and technology.
“It’s hard, especially with finding the clothe,” said Castaneda.
Most parents and caregivers will tell you they’re cutting back due to inflation and their personal financial situation, which is why resources like the no cost back-to-school event, hosted by UnitedHealthcare and the Isaac School District, are so important.
In fact, the cost of school supplies has risen nearly 24% in the past two years, which is no surprise if you ask Kristen Stephenson, the Senior VP of Research and Analytics with the Greater Phoenix Economic Council.
“The U.S. has seen inflation rates up to 9 percent, which is very much an average right now,” said Stephenson.
Typically, we see about 1 to 3 percent inflation rate a year. The Greater Phoenix area has seen even worse.
“13 percent,” she said. “We were one of the highest places in the country.”
Those school costs can add up.
“That apparel category is a big one,” said Stephenson. “Groceries, school supplies, even electronic devices…”
Thankfully, the inflation rates are improving.
“We’re wanting to see that number continue to come back down to those normal levels,” she added.
But until that’s consistent, resources like the event UnitedHealthcare and the Isaac School District are holding, not only help lessen the financial burden for families, but also set students up for success.
“It helps a lot with our income,” said Carpenter.
“This is such a blessing, we’re very grateful,” said Castaneda.