A multi-ethnic group of preschool students is sitting with their legs crossed on the floor in their classroom. The mixed-race female teacher is sitting on the floor facing the children. The happy kids are smiling and following the teacher’s instructions. They have their arms raised in the air. Credit: iStock

Inflation is a hot topic these days, but it’s not just the cost of candy that’s rising. Since the start of the pandemic, childcare costs have gone through the roof. Across the U.S., parents are seeing an average annual cost increase of 41% for center-based childcare providers, and spending an average of $14,117 annually, up from $9,977 pre-pandemic, according to data from a recent LendingTree report. Households with children younger than 5 were hit hardest by these increases, the report found. 

Using data from the Center for American Progress on the costs facing center-based childcare providers and data from Child Care Aware of America on household childcare expenses, LendingTree quantified the household impact of ensuring kids are cared for while parents are […]

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