WASHINGTON — Wholesales prices on U.S.-produced women's and girls' apparel rose 0.1 percent last month to stand 0.6 percent above year-ago levels, according to the Labor Department's Producer Price Index released Tuesday.
In the broader economy, prices on all U.S.-made goods grew by a seasonally adjusted 0.6 percent in August. After stripping out the volatile food and energy sectors, the so-called core measure of inflation held steady for the month, indicating that prices remained in check before Hurricane Katrina ravaged the Gulf Coast.
"That core rates haven't really started to move up is good news," said John Mothersole, senior economist at Global Insight. "Underlying conditions haven't worsened appreciatively and, in fact, they haven't really shown much of a change."
However, increased energy prices in the wake of Katrina will show up as overall higher prices in next month's report, noted Mothersole.
"We're going to see a bump in core inflation," he said. "The key will be how long energy prices stay up. The longer they stay up, the more they're likely to be factored into business decisions."
Prices for all domestically made apparel fell 0.2 percent for the month, but were up 0.1 percent against a year earlier.
Price fluctuations varied within the women's apparel category. Dress prices rose 0.1 percent in August, but were down 4.1 percent from a year earlier, while bras fell 0.1 percent for the month and were up 3.8 percent year-on-year.
On the textile side, greige fabric prices were flat in August and 2.3 percent ahead of a year ago, while synthetic fiber price tags grew by 0.5 percent during the month and were 5.6 percent above year-ago levels.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion