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‘Nothing Left To Cut’: Inflation Leaves Families With Children In Dire Straits

REUTERS/Evelyn Hockstein

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The cost of raising a child to the age of 17 has climbed to $300,000, as the cost of necessities and childhood activities has skyrocketed with inflation, with those who were already struggling to afford their children running out of things to cut back on, The Wall Street Journal reported today.

As year-on-year inflation remained high in July at 8.5%, this new estimate (which assumes a middle class family of four with the youngest child born in 2015) is approximately $26,000, or 9%, more than previous calculations that assumed inflation rates from two years ago would stay consistent, the WSJ reported. Rising costs disproportionately impact those who are already poor, particularly single parents earning less than $20,000 a year who are already struggling to pay for necessities, the WSJ reported.  (RELATED: Here’s One Business That’s Thriving As Inflation Soars Under Biden — Dollar Stores)

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