Parents forced to pay even more for childcare, thanks to inflation

With inflation driving up prices everywhere, parents are being forced to pay even more for childcare.
Published: Jul. 7, 2022 at 8:23 AM MST
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PHOENIX (3TV/CBS 5) - With inflation driving up prices everywhere, parents are being forced to pay even more for childcare.

Many companies and various lines of work are dealing with staffing shortages, and some childcare providers have raised their employees’ pay by 40 percent. Still, they’re having a hard time hiring staff.

Angela Kidane, CEO of Kidzstuff Child Care, said that operating costs are very high. “We’re probably up between 30 to 35 percent,” Kidane said. “That cost is going to have to be passed along to our parents.”

Some families simply can no longer afford the cost, however, as the increase could mean thousands of dollars more each year. Experts believe these high costs may force some hope-to-be parents to lower the number of children they have.

“I can’t imagine having the two of them in daycare,” said one parent. “There’s just no way.”

Without raising prices, childcare providers around the U.S. will be forced to close their doors permanently.