WASHINGTON — Wholesale prices for U.S.-made women's and girls' apparel fell a seasonally adjusted 0.1 percent in January, compared with December, and declined 0.3 percent from a year ago.
However, wholesale prices for all U.S.-made apparel, including men's, boy's and infants', rose 0.1 percent for the month and 0.4 percent from January 2007, while prices on all domestically made goods jumped 1 percent last month, the Labor Department reported Tuesday in the Producer Price Index.
The overall increase in the PPI was driven by higher energy and food costs. The core index, which excludes the volatile food and energy sectors, was up 0.4 percent, following a 0.2 percent rise in December.
The broader increases reflected a deepening inflationary pattern underscored by last week's Consumer Price Index on prices for goods and services, which rose 0.4 percent in January. In the CPI, retail prices for women's apparel rose a seasonally adjusted 0.6 percent in January, following a 0.5 percent rise in December and a 0.6 percent bump in November. The CPI is a truer gauge of apparel prices, since more than 90 percent of clothing sold at retail is imported.
"Months of surging energy prices appear now to be trickling up the production chain to finished goods prices," Kenneth Beauchemin, U.S. economist for Global Insight, wrote in an analysis.
In light of the downturn in the housing market, subprime mortgage crisis and credit crunch on Wall Street, the Federal Reserve Board has placed an emphasis on the slowdown in the economy rather than inflation in setting interest rate policy.
But Beauchemin said the accelerating inflation in several indices could force the Fed to "refocus on the price-stability mandate" ahead of its March meeting.
"Losing a grip on inflation expectations would prove costly at this juncture," Beauchemin warned.
Within the women's and girls' category, wholesale prices on knit shirts and blouses held steady in January, but increased 0.3 percent from a year ago, while prices on skirts rose 0.7 percent for the month and 0.7 versus a year ago. Wholesale prices on tailored jackets and vests increased 0.1 percent for the month and 0.2 percent compared with January 2007.
In the textile industry, prices for domestically made textile mill products rose 0.7 percent in January and increased 3.2 percent year over year, while prices for textile product mills fell 0.4 percent in January but increased 0.7 percent from January 2007.
Prices on synthetic fibers fell 0.9 percent last month but rose 0.9 percent against a year ago, as prices on yarn rose 1.5 percent for the month and 5.1 percent versus January 2007. Greige fabric prices increased 0.7 percent last month and 2.8 percent against a year ago, while prices on finished fabrics rose 0.9 percent in January and 2.3 percent against a year ago.
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)
@denimdaysfestival, which initially launched in Amsterdam in 2014 and has since expanded to New York, is heading to Nashville for the very first time. The two-day festival, which will take place in November, will feature brand activations, hands-on workshops by artisans and denim mills, a vintage market, live entertainment, and local food and drinks. Get all the details on WWD.com. #wwdnews #wwdfashion
Later this month, the popular “Diana: Her Fashion Story” exhibit will be reopening. @historicroyalpalaces, the charity that manages @kensingtonroyal, has been working towards adding new, never-before-seen garments to the exhibit, including this dress created by Gianni Versace for a fund-raising dinner at the Museum of Natural History in Chicago. The exhibit will reopen on April 26 at Kensington Palace @wwdfashion
“Our family has always been engaged and interested in the world around us. [My brothers and I] were always encouraged to have our own opinion at a young age, which is not always something a child is asked — especially to have an opinion with reasoning behind it,” said @yarashahidi on becoming an activist. We caught up with the 18 year old last week, where she talked about her road to acting, how “Black-ish” led her to start conversations about identity and more. Head to WWD.com to read what she had to say #wwdeye (📷: @chelsealaurenla)