Retail Apparel Prices Rise Slightly in November

WASHINGTON — Retail apparel prices rose a seasonally adjusted 0.2 percent in November, but fell 0.8 percent compared with a year earlier, the Labor Department said today in its Consumer Price Index. Women’s apparel prices were up 0.4 percent month-to-month, but declined 1.3 percent year-over-year. Men’s apparel prices were down 0.3 percent in November and fell 0.6 percent in 12-month comparisons. Continued economic pressure from high unemployment and sluggish growth in consumer incomes and wealth are taking away retailers pricing power in general, said John Lonski, chief economist with Moody’s Investor Services.

“Retailers are still facing a lot of headwinds out of their control,” Lonski said. Despite an increase in overall apparel prices in November, December is likely to see a decline “as retailers resort to price discounting in order to move inventory,” he said.

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Prices for all goods and services increased a seasonally adjusted 0.1 percent in monthly comparisons and advanced 1.1 percent year-over-year. Core prices that exclude volatile food and energy sectors, were up 0.1 percent in the month and 0.8 for the year.

Prices on men’s shirts and sweaters dropped 1.6 percent in monthly comparisons and 2.7 percent compared with a year earlier. Prices for men’s suits, sport coats and outerwear fell 2 percent month-to-month, but rose 1.5 percent in 12-month comparisons. Prices for men’s pants and shorts advanced 1.8 percent in November, but declined 0.3 percent year-over-year.

Women’s outerwear prices rose 0.7 percent in November, but dropped 3.3 percent compared with a year earlier. Dress prices fell 0.5 percent month-to-month and 1.9 percent year-to-year. Women’s suits and separates prices were up 1.5 percent in monthly comparisons, but fell 2.5 percent compared with November 2009. The broad women’s underwear, nightwear, sportswear and accessories category saw prices fall 1.7 percent month-to-month, but advance 1.8 percent from a year earlier.

Boys’ apparel prices fell 0.8 percent in November and declined 1.2 percent year-to-year. Girls’ apparel prices rose 1.3 percent month-to-month and dropped 2.6 percent compared with November 2009.