MONROE, Ohio — Americans continue feeling the sting of inflation, with elevated prices keeping wallets tight.
It's causing families to make tough choices, and for many, enrolling their kids in sports this fall may not be in their budget.
The annual rate of inflation for the 12 months ending in September was a whopping 8.2% according to the Consumer Price Index.
With budgets maxed out, many families are continuing to limit nonessential purchases -- and that's beginning to include enrolling their kids in sports.
According to a recent study from LendingTree, roughly 60% of families say their child's involvement in sports this fall is straining their finances.
One in five surveyed claimed they spend about $1,000 or more for their kid to be on a team.
Add in travel expenses for away games, and gas to get them to practices... and the economic burden is amplified.
Teams themselves are also facing elevated costs to use sporting venues as well as hiring coaches and referees and groundskeepers.
Kevin Corke reported from Washington, D.C.
