Could last month’s substantial hike in price inflation for dresses — 7.1 percent to be precise — be a sign of things to come? Retail prices for every other women’s category declined in March, according to the Labor Department’s Consumer Price Index.
But further increases may lie ahead, due to the skyrocketing cost of cotton and ever-climbing transportation costs, according to John Lonski, chief economist at Moody’s Capital Markets Group. “The jump in dress prices could perhaps be a signal of things to come. But as retailers and manufacturers try to spill over these higher costs, the question is whether consumers will resist the price hikes so much that manufacturers and retailers will have to retrench,” said Lonski, noting that year-to-year cotton prices are up 150 percent.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"