The rising cost of daycare is outpacing inflation, according to a new report.
Why it matters: Climbing child care costs put a huge financial strain on families, forcing some parents — typically women — to either ratchet back their working hours or leave the labor force entirely, writes Axios' Emily Peck.
By the numbers: The average annual cost of D.C. daycare tuition for two children — one toddler and one infant — was $47,174 last year, according to data from Child Care Aware, an advocacy group.
Zoom out: Meanwhile, the average annual cost of daycare tuition nationwide for two children was $28,168 — about 35% of U.S. median household annual income.