It’s OK, though, we have “hard evidence”, according to Roche that MMT is working. Fearing inflation is so old school – live for the moment!
Clothing prices have dropped for a decade as tame inflation and cheap overseas labor helped hold down costs. Retailers and clothing makers cut frills and experimented with fabric blends to cut prices during the recession.
But as the world economy recovers and demand for goods rises, a surge in labor and raw materials costs is squeezing retailers and manufacturers who have run out of ways to pare costs.
Cotton has more than doubled in price over the past year, hitting all-time highs. The price of other synthetic fabrics has jumped roughly 50 percent as demand for alternatives and blends has risen.
As an aside, I am unable to wear most of the “fabric blends” the AP article so innocently describes. If I get closer than about an inch to polyester, I start sneezing. I have an old cotton dishtowel on the (fabric) armrest of the Honda – if I don’t, I get a rash on my forearm. Patagonia and older fleece I can wear, but most of the new Chinese stuff is intolerable. So, personally, there’s been no ‘deflation’ in clothing prices over the last decade.