Footwear Prices on the Rise

Footwear prices rose 0.7 percent in November compared with October and advanced 3 percent year-over-year, the Labor Department said Wednesday in its Consumer Price Index.

Prices for women’s shoes increased 1.6 percent month-to-month and were up 3.6 percent in 12-month comparisons. Men’s footwear prices advanced 0.8 percent in November and rose 2 percent compared with a year earlier. November prices for boys’ and girls’ footwear dropped 0.9 percent compared with a month earlier, but jumped 3.1 percent year-over-year. 

Retail apparel prices, which include footwear, declined a seasonally adjusted 0.3 percent in November compared with October, but rose 1 percent from a year earlier.

The overall CPI rose 0.4 percent month-to-month and advanced 1.8 percent in 12-month comparisons, driven by a bump in fuel prices. The so-called core index, which excludes the volatile food and energy sectors, was flat month-to-month and rose 1.7 percent compared with a year earlier.

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