View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 11, 2022

US apparel industry suggests policies to address ‘spiralling’ inflation

Following the release of the Consumer Price Index showing the rise of apparel prices in January, the American Apparel & Footwear Association (AAFA) is urging the Biden administration to immediately pursue swift and effective policies.

By Laura Husband

AAFA president and CEO Steve Lamar says the results of the January 2022 Consumer Price Index report, which shows apparel prices were up by 5.1% compared to 2021 and footwear by 6.1%, shows the Biden administration needs to alleviate ‘spiralling’ inflation for consumers and the US apparel industry.

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

“These price increases are not subtle and not sustainable. Consumers are feeling taxed at the register – online and in-store – due to record-setting inflationary pressure,” Lamar notes. “When we say record-fees, this includes both the tariffs – or taxes – the US government charges on imported consumer goods as well as the unjust price gouging that continues to wreak havoc on global supply chains.

“AAFA continues to call on the Biden administration to pursue swift and effective policies to immediately alleviate the increasingly overwhelming costs on companies and address the shipping crisis. Number one, we need to see immediate elimination and refund of punitive Section 301 tariffs on U.S. imports from China. We also need President Biden to engage on negotiations around the soon-to-expire West Coast port labour contract and bring all stakeholders to the table to implement real solutions to the shipping crisis.”

Lamar urges Congress to immediately renew the Generalized System of Preferences (GSP) and the Miscellaneous Tariff Bill (MTB) trade preference programmes and pass the Ocean Shipping Reform Act (OSRA 21).

“This will allow for more oversight of foreign ocean carriers and provide relief for American businesses and American consumers,” he says.

“Congress is making progress on critical American competitiveness legislation, as embodied in the America Competes Act and the Make it in America Act. Provisions in bills in the Senate and the House would protect American companies from price gouging by foreign ocean carriers, improve online accountability and safety, and mitigate inflationary pressures. Until the Biden administration takes action and Congress approves these measures, our members will continue to suffer, and American families will continue to see unprecedented inflation.”

Last week, AAFA welcomed the passage of the America Competes Act which it says will protect consumers from dangerous counterfeits and address the worsening shipping crisis.

Related Companies

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style