A few days before the start of the new school cycle, parents’ concern – in the midst of inflation close to 99% per year – concerns the cost of the school basket. Especially since the value of this set of items that children need to get to school has become 137% more expensive on average than last year.
This level of increase was noted by the consultancy Focus Market, which surveyed the products available in supermarkets and bookstores under the Fair Prices program up to 31 March. The “Combo I”, consisting of primary school supplieswhich includes 21 products and a basic backpack, It is valued at $10,442, which is an increase of 135% compared to the same products which in 2022 amounted to 4,470 dollars.
According to Damián Di Pace, director of the consulting firm, “general average inflation is dissociated from what happened in the bookstores and school supplies category throughout the year. school combos have increased at a higher rate than the average for other sectors of the economy”.
“In many cases, there have even been problems accessing the dollars needed to import the finished product, such as pencils, backpacks and pencil cases.”
Increases in school supplies, due to their magnitude, are on the official agenda. This week, the Commerce Secretary teased that under the Fair Prices program, 310 products corresponding to the school basket will be included at a fixed price until March 31st and which will then have a guideline of 3.2% per month until June.
If we add clothes to go to school to the increases in school supplies, the budget goes up even more. “In the case of clothing and footwear, while the price index closed last year with an average increase of 120.8%, in the case of specific products for the school sector, such as tracksuits or footwear, they had year-on-year increases of up to 142%.
If the value of a top brand unisex dungaree (average price $7,250) is added to the value of the supplies and backpack, the basic school bag comes to $17,692, 137% more than in 2022 ($7,470), according to Focus data Market.
For its part, the survey by Liberi Consumatori, in the City of Buenos Aires, showed that school basket products had an increase of 90.24% in school supplies and 164.09% in clothing compared to 2022. In this case the survey was conducted in shops and supermarkets in the City of Buenos Aires, measuring the prices of 33 bookshop products, as well as 4 school clothing items.
in the category Backpacks and cases the situation is complex, says Di Pace. “Only 10% of the supply is produced on the local market. They have closed many laboratories and producers cannot substitute what is imported. As for the imported products of these categories, the restrictions have given rise to it there is not enough supply on the market because the SIRAs (import permits) have been stopped since September 2022″, he explains.
“Without product, prices skyrocket. Increases in this category averaged 150% year-over-year and, in some cases, in products for which it was not possible to replace it, it reaches 200%”, specifies Focus Market.
As for a technology kit, which includes a 4GB notebook, a headset, a printer and home Internet service, it is valued at $119,596, an increase of 107% over the previous year.
In the case of technological products, the increases were below average as in the case of notebooks, smartphones and headphones, printers being one of the goods that increased the most during the year. In the case of the smartphones of the Now 30 Plan launched by the government, it allowed those who anticipated their purchase to access these devices at a low interest rate of 48%, the report highlights.
Based on the impact of the school basket increase on salaries, there are employers who plan to award benefits to cover these expenses. According to a survey by Cuponstar, a company that manages this type of benefit, out of 95 companies, 81% plan to grant “back to school” benefits. 30% plan to provide more than $25,000 in aid; 20% between $25,000 and $15,000 and 17% between $15,000 and $10,000. As for 2022, the companies surveyed had budget increases ranging between 98% and 100%, be able to match the benefit paid in 2022 by considering inflation.
Source: Clarin
