Inflation news and archive

Sustainable goods see decline due to high cost, yet luxury sales grow

With inflation rates at a forty year high as recession predictions swirl around the financial sphere, it would make sense to see a decline in discretionary spending as the cost of gas and daily essentials rise. While Morning Consult did find that consumers cut back on spending from February to March this year—with US apparel registering a one...

Jun 23, 2022

Retail

Primark is raising its prices this autumn, to regret of execs

The rising cost of goods is impacting high street retailers, but shoppers will be paying the price. Global supply chain disruptions, increased shipping and fuel costs and a Ukraine war now its fourth month, are all compounding inflation. Primark, one of the UK’s leading value fashion retailers, this week told the BBC it is raising prices in...

May 31, 2022

Retail

Next to raise prices on clothing and homeware

Next reported stellar sales amid the pandemic, seeing a 20 percent growth in occasionwear, a 45 percent increase in its online business, even upping its forecast to 822 million pounds profit, a near 10 percent rise over 2019. Yet despite its strong sales, the British retailer is seeing a surge in costs for shipping, operations and manufacturing,...

Jan 7, 2022

Fashion

AAFA cites causes for 40-year inflation spike and fashion sticker shock

American Apparel & Footwear Association President and CEO Steve Lamar reacted to reports today that prices in America rose 6.8 percent in the 12 months ending in November – the largest rise in nearly 40 years. Prices for clothing and footwear rose 5 percent and 4.7 percent during this time. “These price increases for apparel and footwear are...

Dec 13, 2021