Clothing prices have dropped for years thanks to cheap overseas labor, but increases in those labor costs as well as an increase in the cost of materials such as cotton could cause prices to rise.
The AP quotes an analyst who projects a 10 percent rise in prices in coming months, and reports that the CEO of manufacturer VF Corporation — which makes clothes for several brands including Wrangler and Lee — predicted similar increases for all of the company’s brands. Cotton jumped to a 150-year high on Friday, further fueling the probability that you’ll have to pay more to clothe yourself.
Have you noticed any change in clothing costs so far this year?
Clothing prices to rise 10 pct starting in spring [AP via San Francisco Chronicle]