The American Apparel & Footwear
Association is urging Biden to tackle rising apparel inflation rates following
the news the US Consumer Price Index has increased to a 40-year high of 6.8%.
American Apparel & Footwear Association president
and CEO Steve Lamar argues the price increases for apparel and footwear ‘are
truly unprecedented after 20-plus years of deflation in the apparel and
footwear market’.
He explains: “Shockingly, men’s apparel topped the
charts with a 7.8% increase during this period, while infant-toddler apparel
increased 4.5%. This is a direct result of unnecessary tariffs and the
worsening shipping crisis.”
Lamar believes the high price tags reflect a mix of record-setting
inflationary pressure, tariffs on imports, and other excessive fees faced by
companies who are working to keep Americans affordably dressed.
He says: “These price increases are clearly
unsustainable for consumers and brands alike. Unless corrective action is
taken, inflation will continue spreading like wildfire. That’s why AAFA is
urging the Biden administration to continue working on immediate actions to
unsnarl the current shipping logjams and to provide broad and immediate tariff
relief to American businesses today.”
The apparel index rose 1.3% in November after being
unchanged in October, when measured as a seasonally adjusted percent change. It
was cited as increasing alongside shelter, used cars and trucks, and new
vehicles, the indexes for household furnishings and operations, and airline
fayres.
However, the AAFA also argued that many more immediate
actions – including tariff relief and retroactive trade preference programme
renewals – will be required to help US business, consumers, and the US economic
recovery.