Inflation increased in April compared to a year ago, buoyed by increases in energy, food, shelter, transportation services and healthcare. Apparel prices rose negligibly.
According to Consumer Price Index (CPI) data released last week by the U.S. Department of Commerce, prices for all goods and services rose by 2.2% (adjusted for seasonality) compared to the same month last year. Energy prices, which fell in the month, remain significantly higher than a year ago. The core inflation rate, which excludes food and energy, increased by 1.9%.
The apparel and footwear price index increased by 0.5%.
Apparel prices (excluding footwear) rose by 0.4% compared to April 2016, their smallest increases in four months. Footwear prices rose by about the same amount, up 0.5%.
Womenswear prices increased by 0.8% in the month, while menswear prices fell by 1.9%.
Children’s apparel suffered a 1.5% price decline, primarily due to a drop in boys’ apparel prices and a shift toward value channels.
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