US footwear prices rise for fifth month in January
According to the Footwear Distributors and Retailers of America (FDRA), US retail footwear prices rose 2% in January, the largest increase since 2022.
In December, prices grew 1.1% following a 0.1% year-over-year rise in November, with retail prices up in five of the past six months.
FDRA chief economist Gary Raines noted that the trend is driven by continued increases in the average landed, duty-paid cost of footwear imports, which has risen at double-digit rates for nine consecutive months, applying upward pressure on the supply chain and consumer prices.
By category, men’s footwear prices climbed 3.4%, the strongest gain in 20 months. Children’s footwear rose 1.5%, the highest increase in over a year, while women’s prices grew 1.1%, marking a six-month streak of growth.
