According to the latest data from the Footwear Distributors and Retailers Association (FDRA), footwear prices rose 6.2 per cent in July from a year earlier. Men’s shoes, women’s shoes and children’s shoes increased by 4.9 percent, 6.4 percent and 7.7 percent, respectively. While headline inflation eased in July, footwear prices continued to rise sharply.Footwear prices in the U.S. rose 5.8% in the first seven months of this year compared with the same period last year, and 2022 is set to be the most expensive year for footwear in decades, according to the Footwear Distributors and Retailers Association.But the Footwear Distributors and Retailers Association also said it expected price increases to slow in coming months as imports and retail inventories build. FDRA also noted that consumer demand for footwear was weakening and that supply outstripping demand would lead to a fall in footwear prices in the coming months.The latest CPI data, released Wednesday, showed inflation rose 8.5% in July from a year earlier, down from a 40-year high of 9.1% a month earlier.
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