US footwear prices still increasing
US footwear prices have continued to climb, albeit at a slower pace than in previous months.
The latest data from Footwear Distributors and Retailers of America (FDRA) suggests that footwear retail prices in September rose by 3.9% year on year, but it said this was the slowest increase in 18 months.
Men’s footwear prices rose by 3.1%; women’s climbed by 4.8% and children’s’ increased by 3.5%. Since the start of this year, overall footwear retail prices have risen by 5.5% compared to the same period in 2021.
Footwear price increases have been below the broader based Consumer Price Index (CPI) inflation rate, which hit 8.2% according to the September figures released by the US government.
Looking ahead, the FDRA predicts that any increases in retail footwear prices should continue to soften because supply is expected to outstrip demand.
