Consumer prices rose by an expected rate in October compared to a year ago, the result of a retreat in energy prices that had spiked at the end of hurricane season, plus flat food prices. Apparel prices dropped slightly year-over-year.
According to the most recent Consumer Price Index (CPI) data released by the U.S. Department of Commerce, prices for all goods and services rose by 2 percent adjusted for seasonality compared to the same month last year, their second biggest gain since January. The core inflation rate, which excludes food and energy, increased by an expected 1.8%, below the Fed’s target of 2 percent.
The apparel and footwear price index fell by 0.6%.
Apparel prices excluding footwear were down 0.2% compared to October 2016, capping six consecutive months of flat or lower performance. Footwear prices fell by 2.1%, their biggest year-over-year drop in over a decade.
Womenswear prices dipped by 0.5% in the month, while menswear prices fell by 0.3%.
The footwear price index was pressured by a big drop in children’s show prices.
At the upcoming edition of Sourcing at MAGIC, attendees will be able to witness the factory of the future right on the show floor.Read more
RIS is recognizing several retail software vendors for their ability to transform industry member’s businesses with technology.Read more
The wool market has battled dwindling demand from the infiltration of high-tech fabrics in the outerwear market for many years and lost supply in its home market of Australia, where growers have increasingly opted for more profitable use of their land.Read more
The U.S. Commerce Department issued affirmative final determinations in the countervailing duty investigations of fine denier polyester staple fiber from the China and India.Read more
The cost of enjoying free shipping on Amazon is going up.Read more
GFG named two new co-CEOs, Walmart International named Judith McKenna as its new CEO and a Louis Vuitton veteran announced his exit.Read more
Portugese mill Tintex is switching from the use of conventional cotton and has launched a new fabric range called Naturally Advanced Cotton by Tintex using four different premium and responsibly grown cottons.Read more