Inflation Pushes Cost of Raising a Child in U.S. to $300,000

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The cost of raising a child to 17 years of age has surged to over $300,000 as a result of inflation, according to a new study.

Inflation in the U.S. has exploded following the coronavirus pandemic and the Russian invasion of Ukraine, hitting 9.1% in June before falling to 8.5% in July.

The Brookings Institution estimates it will cost a married, middle-income couple who have two children $310,605 to raise the younger child, born after 2015, until the age of 17.

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This is an increase of more than nine percent from the figure two years ago, and averages out at $18,271 per year for the child.

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