MSNBC: Back-to-School Shopping Inflation Hits the Parents, They Won’t Be Able to Spend as Much as Needed

REISER All right Cal ░░░░░░░░ s some of the ░░░░░░░░ gritty What are you ░░░░░░░░ from folks though PERRY ░░░░░░░░ look we talk so ░░░░░░░░ about this K shaped ░░░░░░░░ and it makes sense ░░░░░░░░ when you look at ░░░░░░░░ especially at this time ░░░░░░░░ year This is back ░░░░░░░░ school time of year ░░░░░░░░ earnings have suggested that ░░░░░░░░ areas are spending more ░░░░░░░░ poor areas are spending ░░░░░░░░ money That s certainly ░░░░░░░░ true in earnings calls ░░░░░░░░ Five Below McDonald s ░░░░░░░░ Chipotle I had a ░░░░░░░░ to speak to an ░░░░░░░░ yesterday about this here ░░░░░░░░ California He s from ░░░░░░░░ take a listen Clip ░░░░░░░░ FELER Higher income consumers ░░░░░░░░ have more room to ░░░░░░░░ able to adapt to ░░░░░░░░ right They can downgrade ░░░░░░░░ store brands or in ░░░░░░░░ less expensive stores People ░░░░░░░░ are living paycheck to ░░░░░░░░ just don t have ░░░░░░░░ room in their budgets ░░░░░░░░ ends PERRY And so ░░░░░░░░ s take a look ░░░░░░░░ how this applies to ░░░░░░░░ to school because this ░░░░░░░░ a huge industry when ░░░░░░░░ talk about the goods ░░░░░░░░ services that are needed ░░░░░░░░ back to school right ░░░░░░░░ billion this year is ░░░░░░░░ is expected that shoppers ░░░░░░░░ spend on back to ░░░░░░░░ shopping That s an ░░░░░░░░ of more than 850 ░░░░░░░░ household Now JLL which ░░░░░░░░ a commercial real estate ░░░░░░░░ looks at the spending ░░░░░░░░ First take a look ░░░░░░░░ if you are from ░░░░░░░░ family that is unaffected ░░░░░░░░ inflation you are going ░░░░░░░░ spend on average 32 ░░░░░░░░ more this year on ░░░░░░░░ supplies If you re ░░░░░░░░ a family that is ░░░░░░░░ affected you will spend ░░░░░░░░ percent less What is ░░░░░░░░ the more tragic about ░░░░░░░░ Lindsey is when you ░░░░░░░░ to families whether it ░░░░░░░░ polling or whether it ░░░░░░░░ just anecdotal on the ░░░░░░░░ evidence they prioritize schooling ░░░░░░░░ education So it is ░░░░░░░░ shame that some families ░░░░░░░░ just this year because ░░░░░░░░ inflation because of where ░░░░░░░░ economy is not be ░░░░░░░░ to spend as much ░░░░░░░░ school supplies REISER Yeah ░░░░░░░░ school lunch is costing ░░░░░░░░ and groceries All right ░░░░░░░░ Costello Cal Perry thank ░░░░░░░░ both.”