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

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Dec 13, 2021

Fashion

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 truly unprecedented, after 20-plus years of deflation in the apparel and footwear market,” said Lamar. “Shockingly, men’s apparel topped the charts this week with a 7.8 percent increase during this period, while infant-toddler apparel increased 4.5 percent. This is a direct result of unnecessary tariffs and the worsening shipping crisis.”

“These price tags reflect a mix of record-setting inflationary pressure, tariffs on imports, and other excessive fees faced by companies who are working to keep Americans affordably dressed. These price increases are clearly unsustainable for consumers and brands alike. Unless corrective action is taken, inflation will continue spreading like wildfire. That’s why AAFA is urging the Biden administration to continue working on immediate actions to unsnarl the current shipping logjams and to provide broad and immediate tariff relief to American businesses today.”

AAFA applauded House passage of the Ocean Shipping Reform Act this week, a big step in bringing today’s unwieldy shipping crisis under control while preventing future crises. At the same time, many more immediate actions – including tariff relief and retroactive trade preference program renewals – will be required to keep U.S. business, consumers, and the U.S. economic recovery dressed for success.

AAFA
American Apparel & Footwear Association
Inflation
Ocean Shipping Reform Act