According to U.S. media reports on the 17th, for decades, falling prices for U.S. consumers in an important part of the family budget spending reduced, this part is clothing. But those days may be long gone.
According to the U.S. government report released this week, clothing consumer prices rose 0.6% in 2013. Gains, although small, is already a clothing prices rose for the third consecutive year. 13 years before 2011, only two years been clothing prices.
Clothing prices is the main reason of the long-term decline in China has gradually become the world's biggest exporter, an era of clothing imports at low price is formed. This is a boon for consumer's standard of living, because we can save more money to buy other things.
In 1987, the clothing accounted for 5.4% of all the personal consumption expenditures. By 2009, that figure dropped to 3.1%. In 2012, up slightly to 3.2%. Data is not yet out of 2013.
The events of 2010 May be marked at low prices of imported clothing era ended, in that year, lead to the bad weather in China, India and the United States of the three world's largest producer of cotton production. India banned exports directly, cotton prices began to rise. In the first half of 2011, cotton prices briefly rose to $2.19 a pound (about 13.25 yuan), the figure in early 2010, less than 70 cents.
At the end of 2011, cotton prices back to below $1, but before a rally has pushed us clothing inflation to 4.6% in 2011, a record since 1990, far higher than the overall inflation rate of 3%. This is since 1991, clothing prices more than the overall inflation rate for the first time.
Clothing inflation rate fell to 1.8% in 2012, slightly higher than the overall inflation rate; In 2013 was 0.6%, far below the 1.5% headline inflation.
According to a report this week, clothing prices fell in December last year, the annual Christmas sales season will appear such circumstance. But 2.3% of the monthly decline was the youngest of eight years since December drop - maybe this is a sign that indicates that compared with before, clothing retailers more successfully avoids the heavily discounted goods. After adjust seasonal factors, according to the bureau of labor statistics, clothing prices in December last year rose by 0.9% in November.
In the past 27 years since the end of 1986, the American apparel prices rose by only 17%. Children's clothing has been the most anemic growth category, this may be because parents buyers particularly sensitive to the category of the price. Data show that boy apparel price rise is only 1%, compared with a girl apparel prices fell by 6%. Men's clothing prices rose faster than women's clothes, but shoes price increase of 29% over the same, than all the other kinds of clothing.
Source: China's news