{"id":583365,"date":"2021-07-05T18:51:07","date_gmt":"2021-07-05T22:51:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=583365"},"modified":"2021-07-05T18:51:08","modified_gmt":"2021-07-05T22:51:08","slug":"thanks-to-inflation-back-to-school-prices-expected-to-skyrocket","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanks-to-inflation-back-to-school-prices-expected-to-skyrocket\/","title":{"rendered":"Thanks To Inflation, Back-To-School Prices Expected To Skyrocket"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthanks-to-inflation-back-to-school-prices-expected-to-skyrocket%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=583365&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Fairfax-School-Buses.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>American parents foresee higher back-to-school expenses due to rising inflation.<\/span><\/p>\n<p><span>According to a survey from accounting firm <\/span><a href=\"https:\/\/advisory.kpmg.us\/articles\/2021\/consumer-pulse-survey-back-to-school-2021.html\"><span>KPMG<\/span><\/a><span>, consumers predict a 9% year-over-year increase in their back-to-school spend. Last year, they anticipated spending $247; this year, they anticipate $268.<\/span><\/p>\n<p><span>The firm\u2019s report detailed:<\/span><\/p>\n<blockquote readability=\"26\">\n<p><i><span>A leading reason for increased spending is the expectation that items will be more expensive this back-to-school season. Among respondents planning to spend more per child, 39 percent believe things will cost more in 2021.<\/span><\/i><\/p>\n<p><i><span>U.S. inflation is indeed on the rise: According to KPMG economic analysis, many products are seeing a spike in prices, driven by the combination of supply shocks to U.S. manufacturing suppliers and strong demand for goods, including certain school shopping categories. Clothing prices, for example, are showing a 1.9 percent rise in year-over-year terms.<\/span><\/i><\/p>\n<p><i><span>The sudden and widespread shift to remote schooling in the end of the 2019 school year, and its continuation into 2020, meant many parents were competing to scoop up high-demand, limited inventory items like computers and desks. Global supply chain bottlenecks in key sectors such as technology and furniture compounded the matter.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>In May, the <\/span><a href=\"https:\/\/www.dailywire.com\/news\/breaking-monthly-inflation-again-passes-economists-expectations-highest-annual-rate-in-more-than-12-years\"><span>Consumer Price Index<\/span><\/a><span> \u2014 a metric used by the Bureau of Labor Statistics to track price levels for the average American family \u2014 saw a year-over-year increase of 5%. The agency\u2019s findings imply that the United States is witnessing its highest level of inflation since the Great Recession.&nbsp;<\/span><\/p>\n<p><span>Core CPI \u2014 which factors out food and energy costs \u2014 saw its largest year-over-year hike since 1992.<\/span><\/p>\n<p><span>A recent <\/span><a href=\"https:\/\/www.dailywire.com\/news\/one-third-of-cfos-will-raise-prices-if-inflation-continues-almost-none-trust-the-fed\"><span>survey<\/span><\/a><span> among members of CNBC\u2019s Global CFO Council revealed that one-third of American financial executives will raise prices if high inflation persists. Though most CFOs see high inflation as no more than a temporary phenomenon, none of the American CFOs taking the survey indicated that they are \u201cvery confident\u201d or \u201csomewhat confident\u201d in the Federal Reserve\u2019s ability to manage inflation. Indeed, nearly half said that they are \u201cnot at all confident.\u201d<\/span><\/p>\n<p><span>The Federal Reserve \u2014 the central bank of the United States \u2014 has not yet <\/span><a href=\"https:\/\/www.dailywire.com\/news\/fed-dramatically-hikes-inflation-projection-in-much-awaited-meeting-will-not-taper-stimulus\"><span>announced<\/span><\/a><span> plans to taper its aggressive monetary stimulus. Last month, the Federal Open Market Committee increased its inflation projection for 2021 to 3.4% \u2014 a full percentage point higher than its previous forecast.&nbsp;<\/span><\/p>\n<p><span>The Fed will continue to purchase $120 billion in bonds from the private market every month, despite a GDP growth projection of 7% for 2021.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>American parents foresee higher back-to-school expenses due to rising inflation.According to a survey from accounting firm KPMG, consumers predict a 9% year-over-year increase in their back-to-school spend. Last year, they &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2314041,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Fairfax-School-Buses.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Thanks To Inflation, Back-To-School Prices Expected To Skyrocket","footnotes":""},"categories":[],"tags":[],"class_list":["post-583365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Fairfax-School-Buses.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Thanks To Inflation, Back-To-School Prices Expected To Skyrocket","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/583365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=583365"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/583365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2314041"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=583365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=583365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=583365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}