Parents Feeling The Pinch With Back-To-School Shopping

Credit: AP

The thought of going back to school isn't just a downer for kids on summer break, but a downer for parents too, who are finding their wallets hit harder and harder each year.

The National Retail Federation's annual survey of back-to-school shoppers finds the average person with school-age children will spend almost $700 in supplies for their kids, up $85 from last year.

It also means retailers will be raking in more than $30 billion in sales.

Breaking it down, clothing and electronics make up the bulk of the cost at a combined $463: $246 for clothing, $217 on electronics. Parents are expected to spend just over $129 on shoes and about $95 on supplies.

Though the cost might be hard on parents, there could be a silver-lining; robust sales might snap a three-month streak of declines in sales.