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Cotton Clothing To Become More Expensive

Cotton Clothing To Become More Expensive - Cotton clothing is getting more expensive, so perhaps it's time to stock up now on the "fabric of our lives" while it's still somewhat affordable. According to the Wall Street Journal, shoppers will have to pay more for clothing next year as increasing cotton prices are forcing companies to take their chances with price increases.

Hanesbrands Inc., Jones Group Inc., and VF Corp all said they will raise their prices for clothing by as much as ten percent. Cotton prices are climbing up to $1.3426 a pound Tuesday, making it a record high. That's up eighty-four percent from July.

Not only will cotton clothing cost more, but even other changes will take into effect as a result of the increase in cotton prices. CNN is reporting that buttons will also get smaller to conserve cotton. Furthermore, companies will look to alternative fabrics to keep prices down.

According to CNN, this is a result of the simple rule in economics: supply and demand. More demand crossed with a lower supply results in more expensive cotton.

"The world has radically changed," Richard A. Noll, chief executive of Hanesbrands, said in an interview, according to the Wall Street Journal. "There is a clear understanding that prices need to go up in this kind of environment."

Cotton Clothing To Become More Expensive
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