South Dakota, Iowa, Minnesota School Shopping Sticker Shock
Now that we've flipped the calendar to August, the focus of many households in the Tri-State area (South Dakota, Iowa, Minnesota) turns to the rapidly approaching beginning of another school year.
One of the first tasks to be crossed off the list is back-to-school shopping for clothing and classroom supplies.
Unfortunately, 2023 back-to-school shopping may end up costing you more than ever before.
The National Retail Federation is projecting spending of more than $135 billion, which is $24 billion more than in 2022. They say higher prices and more extensive shopping lists are to blame.
NRF research shows that the average family with children in elementary through high school plans to spend a record-high average of $890.07, an increase of $25 from last year. For families with college students, that number jumps to $1,366.95 per student, more than $167 higher than last year.
Back-to-school shoppers in Iowa have a chance to save some money if they head to stores this weekend.
The Hawkeye State is one of 17 nationwide offering temporary tax holidays. The Iowa tax holiday runs August 4-5 with no sales tax on clothing or footwear items that retail for less than $100.