Lagging Economy Affects Back to School Purchases

With four dollar-a-gallon gas and rising food costs, families are cutting back on back-to-school spending this year.

A national survey by consulting giant Deloitte finds 71 percent of consumers will spend less on school items this year than last. Some 83 percent say they'll cut back on back-to-school clothes spending. A full 90 percent plan to change the way they shop.

Many will be shopping at dollar stores rather than department stores and office supply stores.

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