Schools opened, prices for children’s and winter clothing soared
According to data from the Turkish Statistical Institute (TUIK), the winner of the price increase in October was children’s clothing with a monthly increase of 22.40 percent.
According to TUIK, the change in the consumer price index (CPI) was 3.43 percent in October 2023 compared to the previous month and 61.36 percent compared to the same month of the previous year.
In October 2023, the main group with the greatest increase compared to the previous month was clothing and footwear with 13.73 percent. The basic item whose prices increased the most in October compared to the previous month was children’s clothing, with 22.40 percent.
Women’s clothing increased by 16.84 percent, women’s shoes by 16.14 percent and men’s clothing by 10.20 percent compared to the previous month.
THE PRICES OF THE COATS ARE EXCELLENT
The rise in clothing prices was also reflected in the inflation data of the Istanbul Chamber of Commerce (ITO) in October. In October, the coat, which is in the men’s clothing spending subgroup, was the product whose price increased the most with 83.90 percent.
Other products with increased prices: In the subgroup of spending on women’s clothing, sweaters with 75.89 percent, coats with 67.10 percent, coats with 64.69 percent and shoes with 40.17 percent. percent, while in the subgroup of spending on men’s clothing, coats with 60.91 percent and 46.66 percent with a jacket.
While prices for winter coats in common clothing brands start at 900 lira, the average price for men’s and women’s clothing reaches 2,000-3,000 lira. In children’s clothing, prices for coats start at 700 lira and range between 1,500 and 2,000 lira on average.
SCHOOLS ARE OPEN, IT’S TIME FOR CHILDREN’S CLOTHES
Ramazan Kaya, president of the Turkish Clothing Manufacturers Association (TGSD), said the price increases in October were due to the change in product prices and labels due to the transition from summer to winter.
Speaking to Sozcu.com.tr about the increase in clothing prices, Kaya said: “We entered October with new products and new effects due to the change of seasons. “The reason for the high inflation rate was the seasonal transition,” she said.
Speaking about children’s clothing being the champion of price increase in October with a monthly increase of 22.4 percent, Kaya said that the increase in demand due to the opening of schools influenced the price increase. Kaya said: “The opening of schools in September caused an increase in demand for children’s clothing and the prices there attracted attention.”
NO CLAIM PERIOD
Kaya stated that there is a serious lack of profitability in both the textile, clothing and retail sectors, explaining that the increase in label prices is due to the increase in raw materials and exchange rates.
Kaya stated that they are in a period of lack of demand and cannot opt for an additional price increase due to the decrease in demand for this season.
Kaya made the following statements regarding the decline in demand:
“The non-demands are still serious. Both tourist and local demand have fallen. There is a decrease of up to 30-40 percent in tourist spending. “We have no chance of seeing a different price increase this year because there is no energy that can support it.”
Kaya stated that next year we may face different prices with the new minimum wage and new costs: “This year it already happened. “We are experiencing all kinds of price and cost increases,” she said.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
