The Sconi

As inflation rates continue to skyrocket into realms not seen before, the cost of raising a child through high school is also proving to be sharply on the increase for most American families.

With “Bidenflation” showing few signs of slowing anytime soon, Axios’ Erin Doherty recently reported a Brookings Institution estimate that pegs the current cost of raising a child through high school at $26,000 more than it was two years ago.

"A married, middle-income couple with two children is likely to spend $310,605 — an average of $18,271 a year — to raise their youngest child born in 2015, per Brookings, which first shared the estimates to the Wall Street Journal," Axios added in a recent Twitter post.

Earlier this month, the Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) data for the 12 months ending July 2022, with data showing an 8.5% all items annual increase, representing a 0.6% drop from last month. Some of the largest contributors were increases in the indexes for food, shelter and electricity.

The Brookings report detailed how a middle-income married couple with two children can expect to pay in the neighborhood of $310,605 — an average of $18,271 yearly — more to raise their youngest child, born in the year 2015, through age 17; the Wall Street Journal said. This represents a 9% increase from what was estimated based on the inflation rate two years ago.

Inflation numbers have steadily been on the rise over the last 18-months, including rising almost every month since President Joe Biden took over in the White House, a recent Statista report said.

The United States Congress Joint Economic Committee’s State Inflation Tracker for July 2022 reported that Wisconsin is facing a 14.1% inflation rate. The state’s additional monthly cost per household added up to $689, with the annualized cost per household amounting to $8,269.

"This is Joe Biden's recession,” Ronna McDaniel, Republican National Committee chairwoman, told Newsweek recently. “Biden can lie and deflect blame all he wants, but that will not alleviate the pain Americans feel every time they fill up their gas tanks, go grocery shopping, check their retirement savings or balance their budgets. Biden and Democrats are responsible for our shrinking economy, and they're only trying to make it worse."