Cost of School Supplies (Blame Technology) Jumps
COLUMBUS, Ohio –- Increasing costs of school supplies and extracurricular activities for students in grades K-12 will dramatically outpace inflation the upcoming school year as measured by the Consumer Price Index, according to Huntington Bank’s eighth annual Backpack Index. For the many high school students who want a mid-priced $300 tablet computer, the CPI measures that increase as 36%.
Relative to 2012, costs will increase an average of 7.3% for K-12 school supplies compared to 1.39%, according to the Backpack Index.
As Huntington researchers have done most years, their index prices backpacks and school supplies (paper, pencils and erasers) at Big Lots. And they research the prices of renting musical instruments and playing sports. No one particular item spiked in price this year, Huntington said. Instead small increases across the board account for the rising costs.
Since the Backpack Index was introduced, costs have increased 22% for elementary school students, 43% for middle school students and 23% for high school students. The most dramatic jump occurred in 2011 when pay-for-play fees were either imposed or hiked, said George Mokrzan, director of economics for Huntington Bank.
Parents can expect to pay this year:
- $577 for elementary school students, a 5.3% increase compared to last year.
- $763 for middle school students, a 5.3% increase.
- $1,223 for high school students, a 9.5% increase.
Each year the Index includes new technology that becomes prevalent for students, such as flash drives a few years ago. The addition of the tablet and its cost would constitute the largest technology expenditure to date. While many schools are providing tablet computers to students, increasing numbers of parents also are buying them for their middle and high school offspring.
Some 23% of teens have a tablet computer, a level comparable to the general adult population, says a Pew Research Center report issued March 13. The report also indicated that 78% of teens have a cell phone and 47% a smartphone. That translates into 37% of all teens who have smartphones, up from 23% in 2011.
Published by The Business Journal, Youngstown, Ohio.
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