Record hit to disposable incomes from tax rises and soaring inflation
2 years, 9 months ago

Record hit to disposable incomes from tax rises and soaring inflation

The Telegraph  

Clothing and other items Women are feeling the squeeze most on the high street as their clothing prices rise at a faster rate. While overall clothing inflation has picked up to 8.8pc, prices for women’s garments have jumped 12pc, according to the ONS. Clothing stores are passing on higher costs from wages, shipping and energy, with retailers also offering fewer discounts than last year when the UK was in lockdown. Martin Beck, chief economic adviser to the EY ITEM Club, said the jump in clothing and footwear prices was “reflecting unusual seasonal pricing patterns”. Rising raw material costs have pushed up furniture prices, which rose 15pc year-on-year, while carpets and flooring costs have jumped 9pc.

Prices Price  record  incomes  soaring  price  prices  womens  retailers  tax  disposable  costs  risen  inflation  hit  increase  raw  rises  jumped  clothing

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