Clothing prices going up 10%. How are you dealing with it?
Thu, 17 Feb 2011 19:24:05 GMT —
Just about everything you buy is going up in price.
From food, to clothing, to gas, you'll be paying more in double digit percentages.
But there are ways to keep that budget in check.
At the Flint Township Target store, the prices haven't changed yet, but by year's end experts say the cost of clothing will go up 10%.
"It affects us quite a bit," says Ashley Jankowiak, a mother of four from Mt. Morris.
She stretches her dollars to make them go as far as possible.
She shops the discount racks to find good deals and her younger children get the older children's hand-me-downs.
Clothing prices are going up because the cost to make them is going up.
Cotton prices have reached a 150-year high, and leather and synthetic goods are getting more expensive to make.
One way to fight the 10% increase is to find things that are decreased and timing is everything.
Jankowiak says, "I shop for the next season. So when the different seasons come, I just get things for the next summer when it's winter because everything's on sale."
But clothing isn't the only thing going up.
The World Bank says food prices have soared 29% in the last year alone.
That's mostly because of the weather like floods in some areas and drought in others.
Demand is also up in China and India, driving the prices higher.
Financial experts say retailers have to be careful as they raise prices not to do it too quickly or too high because it could drive customers away.
How are you dealing with the cost of clothing going up? Let us know by voting below.