WASHINGTON — November wholesale prices for U.S.-made women's and girls' apparel remained steady in November, even as the prices on all domestic goods shot up a seasonally adjusted 3.2 percent because of higher gasoline prices, the largest jump in 34 years.
Energy prices increased 14.1 percent during the month compared with October, according to the Labor Department Producer Price Index released Thursday. The so-called core rate of inflation, which excludes the volatile food and energy sectors, advanced 0.4 percent, the biggest boost since February.
The government will offer a broader reading on inflation today with the Consumer Price Index report.
Since Americans rely on foreign-made goods more than ever, the jump in producer prices is not expected to translate directly or immediately to consumer prices. But the higher gasoline prices will affect both measures of inflation.
Price increases have forced the Federal Reserve Board, led by chairman Ben Bernanke, to walk a tightrope: controlling inflation while lowering interest rates to boost a slowing economy and avoid a recession. The Fed on Tuesday lowered its benchmark federal funds interest rate for the third time in as many months to 4.25 percent.
The dramatic jump in producer prices highlights inflation concerns, even if prices outside of food and energy are growing more slowly.
"It's definitely not good," said Aaron Smith, senior economist at Moody's Economy.com. "It's going to put more emphasis on inflation expectations now. I don't think inflation per se is a big risk right now and that's simply because the economy is just too weak. Businesses are not going to have pricing power."
Since more than 90 percent of the apparel sold in the U.S. is made abroad, price fluctuations among domestic producers affect a small segment of the overall market.
Compared with a year earlier, prices on women's and girls' apparel grew 0.9 percent in November, with increases of 8.1 percent in robes and dressing gowns, 1.8 percent in knit shirts, 0.8 percent in underwear and 0.5 percent in woven shirts.
Prices also rose in the textile arena, with year-over-year increases of 0.1 percent for synthetic fibers, 3.5 percent for yarns, 1.6 percent for greige fabrics and 0.7 percent for finished fabrics.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)