United States Of America : Apparel Retail Prices Slide in January

Retail prices for all apparel fell 0.9 percent in January while apparel prices fell 1.9 percent against January 2002, continuing a pattern of year-over-year declines. Men’s apparel retail prices fell sharply by a seasonally adjusted 1 percent in January against December. Compared with January 2002, men’s prices at retail fell 2 percent. Boys’ apparel retail prices fell sharply by 3 percent last month and plunged a whopping 11.2 percent against a year ago.

In the overall economy, consumer prices rose 0.3 percent, driven primarily by higher energy costs, which were a result of a severe winter and fears of a U.S. war with Iraq. In the four men’s categories tracked by Labor, retail prices for suits, sport coats and outerwear inched up by 0.8 percent in January and gained 0.9 percent against January 2002 while prices for furnishings fell 1 percent last month and fell 0.8 percent against a year ago. Prices for shirts and sweaters fell 1.8 percent last month and plunged 3 percent compared with January 2002 while prices for pants and shorts fell 1.4 percent in January and plummeted 4.5 percent year-over-year.