WASHINGTON –Retail apparel prices declined a seasonally adjusted 0.7 percent in April compared with March, and fell 0.9 percent compared with a year earlier, the Labor Department said Wednesday in its Consumer Price Index.
Women’s apparel prices were down 1 percent in April and dropped 1.1 percent year-to-year. Men’s apparel prices declined 0.5 percent month-to-month and fell 2.3 percent from a year earlier.
The apparel sector was the only major core consumer industry to see prices decline in April, said Charles McMillion, president and chief economist at MBG Information Services.
“As is often the case, apparel prices have plunged in recent months while all other major industries in the core consumer shopping basket have remained stable or increased,” McMillion said.
The overall CPI fell 0.1 percent in April, but rose 2.2 percent compared with a year earlier. The so-called core prices, which exclude volatile food and energy prices, were flat in April, but increased 0.9 percent in the 12-months.
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