Consumer prices in the United States increased by 8.5 per cent in March compared to a year ago, according to the monthly report by the Bureau of Labor Statistics.

Compared to February, prices increased by 1.2 per cent in March  on top of a 0.8 per cent rise in February.

Footwear prices grew by 6.6 per cent in March, year over year, according to data from the Footwear Distributors and Retailers of America (FDRA). This marks the third-fastest year over year increase in about 33 years, trailing behind February’s 7 per cnet increase and May’s 7.1 per cent increase.

The prices of men’s footwear surged by 5.1 per cent while women’s footwear increased by 5.8 per cent and kids’ footwear prices boosted by 11 per cent The rise in prices could be attributed to a variety of factors, especially heavy tariffs on consumer goods like footwear.

High tariffs and epic freight costs are now tripping up consumers with record high footwear prices, says Steve Lamar, President and CEO, AAFA. Apparel prices grew by 16.3 per cent year-on-year in March, making in the standout category for online inflation.

By Fashionating World
https://www.fashionatingworld.com/new1-2/us-consumer-prices-surge-by-8-5-in-march