Inflation's Impact on Schools, Families

(from LinkedIn) Inflation is now at 9.1%, putting pressure on the Federal Reserve to raise interest rates at an aggressive pace, increasing the likelihood for a recession. What might higher inflation and interest rates and a recession mean for independent schools? One Schoolhouse's Brad Rathgeber sees the following possible impacts: 

• Upward pressure on salaries: harder to hire top faculty and administration
• Downward pressure on tuition: less resources to fund the academic mission
• Value proposition: a need to prove worth
• A bright note: increased innovation

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(From Fortune) Families spent more than ever on back-to-school shopping last year and it's expected to reach new heights this year. That’s according to Deloitte’s 2022 back-to-school survey, which finds parents plan to spend $661 per child, on average, for back-to-school shopping this year, up 8% from 2021 and 27% from 2019. Clothing and accessories lead the increase, costing 18% more this year on average. School supplies cost 7% more.

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