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Parents prepare to pay more for back-to-school due to inflation: KPMG

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A worker stocks shelves of back-to-school supplies at a Target store on August 03, 2020 in Colma, California.

Justin Sullivan | Getty Images News | Getty Images

Parents are preparing to pay up this back-to-school season, as prices on items from clothing to notebooks are on the rise, according to new survey data.

The average parent’s spending per student is expected to be as much as $270, compared with roughly $250 in 2020, KPMG found when it surveyed more than 1,000 adult consumers across the United States in May.

Parents of children in preschool are planning to spend as much as 32% more this year, the survey said, while parents of college-aged students will spend about 13% more. The sharp…



Source cnbc.com

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