ASDA Research Shows Cost of Schooling Rises at the Faster Rate

ASDA Research Shows Families spend £10.5 billion a year on sending kids to school.

It is important for retailers like us to understand the real financial pressures that are facing UK families, particularly when families do not have the choice to opt out, like sending their children to school. We must continue to work hard to keep prices down and help families cope with household inflation.

Leeds, UK (PRWEB) August 18, 2008 -- ASDA research shows Hard-up families struggling to cope with increasing energy prices and rises in the cost of living have been dealt another blow with the cost of sending a child to school has risen to £1,077 - the fastest rate for more than 10 years.

Rising food prices have hit the cost of school meals and packed lunches and high petrol prices have made the school run more expensive.

Hardest hit are lower income families, who studies have shown to have more children than better-off families, and spend a larger proportion of their income on school costs like uniforms, meals and transport.

For the past 10 years, falling prices for uniforms and PE kits have helped keep down the cost of sending a child to school. The average annual school cost rise was just 0.8 per cent but now that has soared to 2.3 per cent in the last 12 months and looks likely to continue rising.

Research shows that UK families now spend a staggering £10.5billion a year on school costs, equal to 0.7 per cent of the total wealth generated by the economy - almost a quarter of the amount Britain spends on defence. The cost to parents is rising even though the number of pupils is falling.

Andy Bond CEO ASDA Stores comments," It is important for retailers like us to understand the real financial pressures that are facing UK families, particularly when families do not have the choice to opt out, like sending their children to school. We must continue to work hard to keep prices down and help families cope with household inflation."

"Our £4 school uniform and further price cuts to stationery, grocery and petrol are helping households to cope with their budgets, but schools have to stop restricting families from shopping around for the best value on things such uniforms and sports kits."

For a copy of the report please contact the ASDA press office on +441132435435

Notes for Editors

• Ed Balls, Secretary of State for Children, Schools and Families, said: "Uniforms can help to develop the right mindset among pupils, instilling pride and supporting positive behaviour and discipline. But its vital this doesn't discriminate against anyone so school uniforms must be reasonably priced. We are clear that schools should ensure uniforms are affordable and I'm pleased that retailers are helping to make this happen"

• The lowest ever priced school uniform hit the hangers on Saturday August 2, 2008 when it went on sale exclusively at George at ASDA for just £4*. The £4 outfit is available for children aged from 3 to 12 and is a "flat price" regardless of age.

• Asda Finance can help you set up a child trust fund. Investing your £250 voucher is childs play with the ASDA Child Trust Fund can help your to provide an 18th birthday present that will give them a lump sum that could help them to follow their dreams.