To compile the survey, Huntington officials obtain classroom-supply lists from a cross-section of schools throughout the six states in its banking territory. Analysts then compile a representative list of required supplies and fees.
The Huntington report said no one particular item spiked in price this year. Rather, small increases across the board accounted for the rising costs.
Since the Backpack Index was first introduced in 2007, back-to-school costs have increased 22 percent for elementary school students, 43 percent for middle school students and 23 percent for high school students.
The bank said the most dramatic jump occurred in 2011 when many school districts imposed or hiked pay-for-play fees for students involved in extracurricular activities.
Meanwhile, back-to-school costs aren't the only prices consumers should be worried about in the coming months.
Futures prices for light sweet crude oil have been on a tear of late, going from about $95 a barrel in late June to nearly $109 a barrel last week. Egyptian political turmoil and a sharp drawdown in domestic supplies have been blamed for the recent spike.
Since the price of crude oil accounts for about 66 percent of the cost of a gallon of gas, that doesn't bode well for pump prices going into the end of the summer driving season.
According to AAA, West Virginia's average gas prices have already increased 24 cents in the last two weeks. Let's hope this isn't just the beginning...