Rises in Child Care Expenses Double That of Inflation: KPMG

Child care costs in the United States increased nearly twice as fast as overall inflation over the past three decades, according to a recent report by accounting firm KPMG. “The childcare crisis, which was simmering prior to the pandemic, has come to a boil,” said the May 28 report. “A baseline estimate of childcare affordability is when the cost comprises up to 7 percent of family household income. Today, childcare costs are often in the 10-20 percent range.” According to the report, in the 30 years between April 1994 and April 2024, overall inflation grew by around 112 percent, but during the same period, inflation for daycare and preschool jumped by roughly 207 percent....