Stat of the day: 8%

The percentage the rising price of cotton will add to the cost of clothes by next year

by Elizabeth Anderson
Last Updated: 09 Oct 2013
Could this be the end of Primark as we know it? Figures from fashion retailer Next suggests clothing prices will soar by at least 8% next year, with the prospect of a further rise if the ‘speculative bubble’ in cotton prices continues.

The price of cotton is now standing at a 15-year high after floods in China and Pakistan hit much of the crop and a bout of unseasonal weather in the US caused the price to rise by 90% in the past year.  

Put in perspective, the Daily Mail says this will add £1 to the price of a bra and £10 to a coat.  Other stores such as Debenhams and Primark have also said they’ll raise prices in light of the cotton shortage.

This is the latest blow to shoppers, who already face a VAT increase of 17.5% to 20% in January. On top of this the price of gas and train fares are expected to rise next year, while consumers have already faced a rise in food prices over the past year. Not much to look forward to next year then. Bring on 2011...

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