The cost of raising a child through high school has risen to more than $300,000 because of inflation that is running close to a four-decade high, according to a Brookings Institution estimate.

It determined that a married, middle-income couple with two children would spend $310,605—or an average of $18,271 a year—to raise their younger child born in 2015 through age 17. The calculation uses an earlier government estimate as a baseline, with adjustments for inflation trends.

The multiyear total is up $26,011, or more than 9%, from a calculation based on the inflation rate two years ago, before rapid price increases hit the economy, the Brookings Institution said…

Rising expenses for raising a family could disproportionately affect lower-income families, said Dr. Sawhill, who holds a Ph.D. in economics. For a single parent earning $20,000 or $30,000 a year, shelling out the extra funds for a child might be difficult, she said.