Some families anticipate incurring debt while shopping for back to school, according to reports, with high prices being a contributing factor.

• Recent reports indicate that despite inflation decreasing, approximately one-third of families will still experience debt when purchasing supplies for the upcoming year.
• Here are some of back-to-school items with notable year-over-year price changes.

The back-to-school shopping season is in full swing, and the bills are piling up.

A recent Bankrate report found that about 31% of back-to-school shoppers will face financial strain due to purchasing supplies for the upcoming school year, as revealed by a poll of over 2,300 adults in July.

Intuit Credit Karma's separate report revealed that 31% of parents can't afford back-to-school shopping this year, and 34% expect to take on debt to cover the cost of supplies. The survey polled more than 1,000 adults last month.

The increase in prices for some back-to-school essentials, such as backpacks, is partly due to inflation. CNBC used the producer price index to track how the costs of making these items have changed between 2019 and 2024.

According to Bankrate, families report that back-to-school shopping in 2024 was less stressful than in the previous year.

The consumer price index, a key inflation gauge, decreased from 3% in June to 2.9% in July, the U.S. Department of Labor reported. This figure is the lowest reading since March 2021, indicating that inflation continues to retreat.

"Ted Rossman, Bankrate's senior industry analyst, stated that shoppers are not holding their wallets as tightly this year. However, it is crucial to remain vigilant."

Back-to-school spending may hit nearly $40 billion

According to the National Retail Federation, families with children in elementary through high school plan to spend an average of $874.68 on school supplies, which is just $15 less than the previous year's record of $890.07.

This year's back-to-school spending, including for college students, is predicted to reach $38.8 billion, according to the NRF. This is the second-highest amount ever, following last year's $41.5 billion, which marked the most expensive back-to-school season to date.

A report by WalletHub found that over 75% of parents believe schools ask them to buy too much during back-to-school season.

Parents 'influenced' to splurge

Although they face tight budgets, 85% of parents are open to spending more on a "must-have" item or brand, according to a Deloitte survey conducted in May with over 1,100 parents.

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This year, students' wish lists include low-rise jeans, Adidas Campus sneakers priced at $110 on adidas.com, and North Face Jester backpacks retailing for $75 or more, according to Casey Lewis, a social media trend expert.

"The pressure to maintain the right appearance is immense, especially for young people who are constantly bombarded with new trends," Lewis stated. "Their popularity and coolness are often tied to the products they possess."

How to save on back-to-school shopping

Andrea Woroch, a consumer savings expert, recommends families to buy secondhand clothing, sporting goods, school supplies, and refurbished electronics on resale sites, utilize price-tracking browser extensions or apps, and apply coupon codes. Many online retailers now sell children's overstock, open-box, and returned goods at substantial discounts.

To maximize savings when purchasing new items, consider stacking discounts, as recommended by Woroch. This can involve combining credit card rewards with store coupons and cash-back offers while utilizing free loyalty programs. For instance, you can obtain 50% off at Old Navy with 2% cash back and 20% off at Office Depot with 1.5% cash back, among other deals.

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