The US Bureau of Labour Statistics has released data showing that January apparel prices decreased 1.4 per cent from the previous month. The decline occurred even though the consumer price index, which tracks changes in the costs of things that US consumers purchase, increased by 0.5 per cent overall.
The United States has had obstinately persistent inflation. Prices rose 3 per cent in the 12 months ending in January as costs for items like food continued to rise. On the other hand, clothing has increased more modestly. The price of clothing increased by 0.4 per cent over the same 12-month period.
The more gradual increase in prices is consistent with the past 30 years’ historical trend for apparel. Ahead of New York Fashion Week, the BLS published a special analysis on US clothes last week, noting that prices plateaued following sharp growth in the first half of the 20th century. It said that the cost of clothing was nearly the same in 2024 as it was in 1994.
