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

EXCERPT:

PERRY: “So let's take a look at how this applies to back-to-school, because this is a huge industry when we talk about the goods and services that are needed in back-to-school, right? $37 billion this year is what is expected that shoppers will spend on back-to-school shopping. That's an average of more than $850 per household. Now JLL, which is a commercial real estate group, looks at the spending habits. First, take a look at if you are from a family that is unaffected by inflation you are going to spend on average 32 percent more this year on school supplies. If you're from a family that is significantly affected you will spend 15 percent less. What is all the more tragic about this, Lindsey, is when you talk to families, whether it's polling or whether it's just anecdotal on the street evidence, they prioritize schooling and education. So it is a shame that some families will just this year because of inflation, because of where the economy is, not be able to spend as much on school supplies.”