It's hard to believe that it's already time for back-to-school shopping, but parents say it's no surprise that the cost of supplies is likely to increase for the 2012 school year.
The tally shows nine out of 10 consumers aim to spend the same or more on back-to-school shopping compared to last year.
According to a Deloitte survey, many parents -- 60 percent -- say they plan to spend more only because items will cost more. More than 33 percent say their children will require more expensive items this year.
School budget cuts also have had some impact on spending, said Deloitte retail analyst Scott Erickson. More and more parents say they need to buy more school supplies for their kids due to schools buying less.
Nearly 50 percent of the consumers surveyed said they believe the economy is still in recession, but nearly three-quarters believe their household financial situation is the same or better than a year ago.
The National Retail Federation's annual survey found that the average cost of school shopping for supplies, clothes and electronics will total $688, which is up from $608 last year.
Tuesday, May 21 2013 1:15 PM EDT2013-05-21 17:15:24 GMT
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers. Edwin Vargas was arrested Tuesday outside his home in Bronxville.
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers.
Tuesday, May 21 2013 7:33 AM EDT2013-05-21 11:33:20 GMT
A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
Tuesday, May 21 2013 7:23 AM EDT2013-05-21 11:23:53 GMT
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
Tuesday, May 21 2013 6:51 AM EDT2013-05-21 10:51:26 GMT
The Metropolitan Opera says it's decided to disband its resident ballet company.
The Metropolitan Opera says it's decided to disband its resident ballet company. The American Guild of Musical Artists said the eight remaining dancers of the Metropolitan Opera Ballet have accepted buyout packages.
