Footwear prices on the rise in the US
According to information published by Footwear Distributors and Retailers of America (FDRA), the price of shoes rose sharply in the US in July.
Inflation fell slightly in July, but compared to the same month last year, the price of footwear increased by 6.2% FDRA said.
Despite this upward trend, the organization that brings together footwear distributors expects prices to stabilize in the coming months as stock increases. To this would be added, according to the FDRA, a decrease in consumer demand that would push prices down.
As reported by the Bureau of Labor Statistics, the Consumer Price Index rose 8.5% in July and was below 9.1%, the historical maximum of the last 40 years that was registered in the month of June. The statistics office also published that the CPI, excluding seasonal items, remained stable with an annual increase of 5.9%.
FDRA chief executive, Matt Priest, acknowledged that inflation was “unusually high” but said he expected it to decline in the coming months.
