(USATODAY) — Parents, you aren’t imagining it. School supplies are more expensive this year.
Huntington National Bank’s annual Backpack Index shows school supply prices jumped an average of 7.3% this year, far outpacing inflation at 1.8%.
Almost every basic item has risen in cost since last year, some by up to $10, according to the analysis.
“We’re not sure what’s driving (the increases). Maybe plastic is more expensive,” said Mark Reitzes, president of the Southern Ohio/Kentucky region for Huntington.