U.S. Child Born in 2011 May Cost $234,900 to Raise, USDA Says

“A middle-income family may spend $234,900 to raise a child born in 2011 to the age of 18, a 3.5 percent increase in a year, according to a government report.

Expenses for child care and education, transportation and food represented the biggest jumps, the U.S. Department of Agriculture said in a report obtained by Bloomberg News and being released Thursday. Adjusted for anticipated inflation, a child in a middle-class family would cost $295,560 to raise, the department said.

“It’s not just the cost, it’s the pressure,” said Ellen Galinsky, president of the Families and Work Institute based in New York. Competitive educational environments and an awareness of what it takes for children to succeed are prompting more spending, she said in a telephone interview.”

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