Latest stats from the US Bureau of Labor Statistics reveal, prices of men’s apparels rose 5 per cent in October 2023 as against the previous year. Comparatively prices of women’s apparels, rose just 1.6 per cent during the month. Prices of all items in men’s wear category surged 3.2 per cent in October, which was less than half the 7.8 per cent increase seen a year earlier.
Over the past decade, prices of men’s apparel have increased by around 2 per cent. Most of this rise is led by a 14.2 per cent increase in prices of underwear, nightwear, swimwear and accessories and an 8.9 per cent boost in the prices of pants and shorts.
A host of factors have worked together to push up prices these included the cost of raw materials and production. In contrast, prices of women’s wear have declined by 6.2 per cent since October 2013. In fact, prices of women’s dresses have registered a massive decline 17.3 per cent.
