Published: 04 Nov 2010
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...
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...
