This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Back-to-school Costs For Classroom And Extracurricular School Supplies Continue To Climb At All Grade Levels This Year, According To The 2013 Huntington Backpack Index Issued By Huntington Bank. (Graphic: Business Wire)

Stocks in this article: HBAN

The increasing costs of school supplies and extracurricular activities for students in grades K-12 will dramatically outpace broader consumer price index (CPI) inflation this year, according to Huntington Bank’s eighth annual Backpack Index (NASDAQ: HBAN; www.huntington.com). Relative to 2012, costs will grow an average of 7.3% for K-12 school supplies compared to 1.39% as reported by the Bureau of Labor Statistics’ CPI during the same time period. For the many high school students that will add a mid-priced $300 tablet computer to their back to school list, the Index increases 36%.

In 2013 parents are expected to pay:

  • $577 for elementary school students, a 5.3% increase compared to 2012
  • $763 for middle school students, a 5.3% increase compared to 2012
  • $1,223 for high school students, a 9.5% increase compared to 2012

As with most years, the Index prices backpacks from Big Lots. It also includes traditional school supplies such as paper, pencils and erasers. And it lists the price of renting musical instruments as well as playing sports. No one particular item spiked in price this year. Small increases across the board account for the rising costs.

Since the Backpack Index was first 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.

“Huntington launched the Backpack Index in 2007 to help families plan their finances for the school year,” said George Mokrzan, director of economics for Huntington’s wealth management group. “We also recommend that parents use the Index to teach their children how to budget, save and comparison shop. These financial education tips will help prepare them for college and give them a strong foundation for making wise decisions about money throughout their lives.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs