Apparel prices up 0.5% over 12 months in US market
Over the year ending April 2017, the Consumer Price Index for All Urban Consumers (CPI-U) apparel index rose 0.5 per cent in the US market, according to ‘The Economics Daily’ released by the Bureau of Labor Statistics, US department of labour. The increase in apparel index was a smaller percentage compared to 2.2 per cent increase in CPI-U for all items.
Apparel makes up about 3.1 percent of the total CPI-U market basket. It includes apparel for men, women, boys and girls, footwear for men and women, and jewellery and watches. Within the apparel index, prices for men’s apparel decreased 1.9 per cent over the year ending April 2017, and prices for women’s apparel increased 0.8 per cent. From April 2007 to April 2017, the price index for men’s apparel decreased 0.2 per cent, and the price index for women’s apparel rose 0.5 per cent. The CPI-U for all items increased 18.3 percent over the same period. Girls’ apparel prices increased 2.1 per cent over the year ending in April, whereas boys’ apparel prices decreased 2.8 per cent. The CPI-U for girls’ apparel decreased 10.7 per cent from April 2007 to April 2017, while the CPI-U for boys’ apparel increased 8.2 per cent over the decade. Prices for jewellery and watches rose 6.9 per cent over the year ending April 2017, the report said.