WASHINGTON — Wholesale prices for U.S. made apparel increased 0.1 percent in May compared with April, and rose 1.4 percent from a year earlier, the Labor Department said on Tuesday.
Women’s and girls’ apparel prices declined 0.1 percent in May, but increased 1.6 percent in year-over-year comparisons, according to the Producer Price Index. Men’s and boys’ apparel prices were up 0.3 percent month-to-month, and advanced 2.1 percent from May 2008. Prices for all U.S.-made goods rose a seasonally adjusted 0.2 percent in May. The increase followed a rise of 0.3 percent in April and a decline of 1.2 percent in March.
“The May producer price report supports a picture of generally weak final demand for both consumer and investment goods, leading to general downward pressure on prices,” said Brian Bethune, chief U.S. financial economist, IHS Global Insight.
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The PPI for apparel is not a true indicator of price fluctuations because of the relatively small number of manufacturers operating in the U.S. The Consumer Price Index, to be released today, is a more accurate measure because it reflects the prices for all goods, including imports.
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Prices for women’s and girls’ knit shirts and blouses, dresses, tailored jackets and vests, and jeans and slacks were flat in May compared with April. Compared with the same period a year earlier, prices for knit shirts and blouses increased 1 percent. Woven shirts and blouses were up 1.3 percent, and dresses advanced 1.4 percent. Tailored jacket and vest prices were flat year-to-year. Jeans and slacks prices fell 0.3 percent.
Domestic prices for men’s and boys’ work clothing increased 0.5 percent in May and rose 3.7 percent year-over-year. Knit shirts advanced 1.4 percent from the prior month and in 12-month comparisons. Prices for woven shirts were flat in May, but rose 0.5 percent compared with a year earlier. Suits increased 0.3 percent month-to-month, and advanced 4.3 percent compared with May 2008.
Apparel fabric, also known as textile mill goods, saw prices drop 0.6 percent in May, but increased 0.7 percent compared with a year earlier. Prices for textile product mills, which make home furnishing and industrial fabrics, rose 0.3 percent month-to-month and advanced 2.4 percent year-over-year.
Deeper in the pipeline, synthetic fiber prices declined 5.3 percent in May and fell 5.4 percent in 12-month comparisons. Yarns were flat month-to-month, but dropped 4.8 percent year-to-year. Greige fabric increased 0.4 percent in May and rose 4.6 percent from a year earlier. Finished fabric prices dropped 0.9 percent compared with April, but rose 1.5 percent year-over-year.