The Office for National Statistics (ONS) reports a decrease in inflation due to women’s sportswear.
- In June 2024, consumer price inflation held steady despite falling clothing costs.
- Prices for women’s sports shorts and leggings contributed significantly to this decrease.
- Clothing and footwear prices experienced a 1.2% monthly drop in June.
- Continued retail competition and a stronger pound aid in lowering essential goods prices.
The Office for National Statistics (ONS) has observed that women’s sportswear, particularly sports shorts and leggings, is significantly contributing to the reduction of inflation in the clothing and footwear sector. These items have been recognised for making particularly strong downward contributions to inflation, maintaining a steady rate of consumer price inflation overall in June 2024.
Despite a rise in the Consumer Prices Index (CPI) to 2% and Consumer Prices Index including owner-occupiers’ housing costs (CPIH) to 2.8% over the 12 months to June 2024, clothing and footwear prices fell by 1.2% compared to May 2024. This decline is attributed mainly to reductions in women’s sportswear prices.
In particular, the prices of women’s sportswear shorts and leggings, as well as girl’s fashion tops, showed significant decreases, contributing to a slower rate of inflation. The British Retail Consortium (BRC) acknowledges the benefits households are experiencing from these declining retail prices, which include essential items like food.
Kris Hamer, the director of insight at the BRC, highlighted the impact of falling energy prices, a strong pound, and fierce retail competition in driving down the costs across various sectors. The noticeable reduction in clothing and footwear prices reflects a wider retail trend towards lower inflation due to improved supply chains and retailer investments.
Women’s sportswear plays a vital role in moderating inflation, benefitting consumers and stabilising market costs.
