Consumer costs in the United States rose slightly in September, but apparel prices fell for the first time since June.
The U.S. Labor Department’s latest Consumer Price Index (CPI), released Tuesday, inched up 0.3% last month, driven by increases in the cost of gasoline and rent. Core CPI, which is based on all items excluding food and fuel, slowed from August’s 0.3% growth to increase 0.1% and was up 2.2% for the 12 months ended Sept. 30.
Apparel prices dropped 0.7% in September, pushing the year-over-year change to a decline of 0.1%. The last time apparel prices decreased was in June, by 0.4%, though they stayed the same in July and picked up 0.2% in August.
By category, men’s apparel prices plunged 1.3% in September, due to pants, shorts, shirts and sweaters. On a year-over-year basis, they’re down 1.5%. Prices for women’s clothing decreased 0.2% last month—with declines in all categories except intimates, sleep and sportswear—and they’re down 0.4% versus last year.
By comparison, boys’ apparel rose 1.2% in September (and by 4.4% year-over-year), while girlswear increased 1.1% on a monthly basis and the category is up 2 percent compared with the same time a year ago. Prices for infants’ and toddlers’ apparel, however, declined 1.2% last month. On a year-over-year basis, prices are down 6.7%.
Tech pioneers, including Loomia, are demonstrating that smart textiles are no longer confined to the fashion landscape.Read more
As doors close across the country, retailers like Apple and Forever 21 are looking for new ways to draw consumers in—and often these efforts go far beyond the products on the shelves.Read more
The average freight rates for shipping goods around the world are making minimal declines, but rates are still considerably higher than they were last year.Read more
Digital and human engagement remain key factors of consumers’ shopping experiences.Read more
The list of ills pressuring the sourcing sector isn’t a short one, but according to one industry expert, it’s pricing that rises above all.Read more
Amazon continues to reign e-commerce with its market presence and workplace desirability.Read more
Burberry profits and revenue fall as Bailey transitions, and New York and Company looks to steady the ship.Read more