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Back-to-School Sales Will See a Boost From Rising Prices

  • US spending expected to jump 8% from a year ago, study shows
  • Consumers voice concern about inflation and the economy

Back-to-school shoppers are expected to spend a record amount this year, with consumers facing higher prices and fretting over economic conditions.

Sales for the season are expected to total $34.4 billion, according to a survey released Thursday by Deloitte LLP. That breaks down to $661 per student -- an increase of 8% from a year earlier -- with 37% expecting to spend more than last year.