A new Market Intelligence report has been published by @WTPworldleather. This report points out that the leather industry, as with most manufacturing sectors, faces sharp cost increases, mainly due to rising energy costs. [Market Intelligence: leather on the horns of a dilemma – leatherbiz.com]
Foresees it Anush Gasparyan, commercial director of the Russian consultancyFashion Consulting Group. The average price of shoes is set to rise by 30 percent year-on-year, pushing consumers to focus on cheaper models. [Low-cost footwear to increase market share in Russia this year – Shoe Intelligence]
The Export Price Index (Iprix) of clothing increased by 3%, while export prices in the leather goods and footwear sector grew by 4.3%, Modaes reports . Inflation continues to rise. The Textile Export Price Index (Iprix) recorded an increase of 8.8% year-on-year in May, in line with increases in recent months, according to data published today by the National Institute of Statistics (INE).
According to data from the Turkish Statistical Office, among the most affected sectors there are transport, where prices have increased by 107.6% on an annual basis and food (+91.6%), while, due to the drop in consumption, clothing and footwear have increased less (+29.80%), but the price of finished leather for shoe uppers has increased by 40%
Inflation reached 8.1 percent in the eurozone in May, according to Eurostat's preliminary reading. ECB estimates wage growth to clock in at 3% this year, then declining to 2.5% the next. "There's galloping inflation and wages aren't keeping pace," said Luca Visentini, secretary-general of the European Trade Union Confederation. [Inflation eats wages, leaving workers hungry – Politico]
Data released by the Córdoba Stock Exchange show that protectionism on the textile-leather sector through import licenses reaches an average of 56% for the entire value chain and reaches 94% in clothing. However, despite state protectionism, Argentines continue to pay more for clothes and shoes than their peers in the region. [En Argentina se paga hasta 86% más por electros y 59% por vestimenta que en Brasil y México - Los Andes]
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