Huntington reports on school supply costs
Huntington Bank this past week released its annual backpack index, which illustrates the cost of school supplies.
Huntington said families preparing to send their children back to school can expect to spend a little less on classroom supplies than they did in 2017.
The backpack index, conducted in cooperation with Communities in Schools, showed the first year-over-year decrease for elementary and middle school supplies in five years.
The index reported that school fees remained flat, college preparatory materials were up 10 percent over last year, and the cost of classroom supplies dropped across all grade levels.
The index found that parents can expect to pay $637 per elementary-school child, a 4 percent decrease over last year; $941 for middle-school children, a 6 percent decrease over last year; and $1,355 per high-school student, a 9 percent decrease over last year.
“The annual Huntington Backpack Index serves as a useful tool for our clients and American families everywhere to budget their yearly expenditures,” said George Mokrzan, Huntington Bank chief economist. “While the 2018 index found some good news for families, parents continue to pay significant sums to equip their children for a successful school year.”