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Friday, January 27, 2023

Fashion inflation in Europe and the United States eases in the final phase of the year

Fashion controls the rise in prices. After a year with historic price increases, fashion was relieved in November with moderate increases in most European markets and the United States.

in spain, The consumer price index (CPI) for clothing and footwear stood at nNovember a flat growth compared to the same month last yearAccording to data from the National Institute of Statistics (INE).

This was also the third consecutive month in which fashion prices in the country declined, after a historic rise during the year and inflation crossing 5% in July and August.

The same pattern was repeated in Germany as well.Although it continues at a high level. According to the country’s statistics office, the country’s CPI for clothing and footwear rose 5% in November, five-tenths less than the previous month’s figure.

In the United Kingdom, fashion closed the eleventh month of the year with inflation of 7.5%. While the figure is still high, it is down from 8.5% in October, according to the Office for National Statistics.

Whereas in Italy Fashion prices continued to rise in November compared to the previous month, but with a much slower increase, According to data from the Istituto Nazionale di Statistica (Istat), the CPI for clothing and footwear in the country registered a 3.1% increase in November, after rising 3% in October.

Price growth in the United States has also moderated in recent months, after rising for most of the year. Inflation in clothing and footwear in the country, which had peaked at 6.8% in March, was 3.6% in November.

The region began to moderate price increases in the North American country in August., when the CPI for clothing and footwear increased by 5.1%, which was lower than the 5.1% increase in June. In September, fashion prices in the country rose marginally with an increase of 5.5% and closed October with an increase of 4.1%.

World Nation News Desk
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