Footwear Prices Fall Flat in April

Seasonally adjusted retail prices for footwear were flat in April compared with March and rose 1.1 percent compared with a year earlier, the Labor Department said Wednesday in its Consumer Price Index.

Men’s footwear prices rose 0.7 percent month-to-month, and advanced 1.3 percent year-to-year. Women’s footwear prices dropped 0.2 percent in April, but increased 1.8 percent in 12-month comparisons. Boys’ and girls’ footwear prices declined 0.5 percent in monthly comparisons, and dropped 0.9 percent compared with April 2009.

Retail apparel prices, which include footwear, declined 0.7 percent in April compared with March and fell 0.9 percent compared with a year earlier.

The overall CPI fell 0.1 percent in April, but rose 2.2 percent compared with a year earlier. The so-called core prices, which exclude volatile food and energy prices, were flat in April, but rose 0.9 percent in 12-month comparisons.

“The April report on consumer prices is yet again another illustration that inflation pressure remains on the down side,” said Gregory Daco, U.S. economist with IHS Global Insight. The yearly increase for core prices was the smallest since 1966, he said.

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