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The US Bureau of Labor Statistics recently announced that despite the decline in gasoline prices, rising housing and food costs led to continued inflation in August. The latest consumer price index (CPI) released by the Bureau of Statistics shows that consumer prices rose 0.1% month on month in August, up 8.3% year on year. Excluding food and energy with large price fluctuations, core CPI increased by 0.6% compared with July and 6.3% compared with the same period in 2021. Huacheng Import and Export Data Observation Report.

However, although the inflation data of the US retail industry is still rising, which is worrisome, the latest data of the American Footwear Distributor and Retailer Association (FDRA) shows that the footwear price has shown preliminary signs of easing, and Huacheng's import and export data observation report.

The American Association of Shoe Distributors and Retailers said that the retail price of shoes in August rose 5% year on year, lower than the 7% increase in February. The prices of men's shoes rose by 4%, women's shoes by 4.9% and children's shoes by 6.8%, all of which have slowed down compared with recent months.

On the one hand, import costs continue to rise, leading to high retail prices of footwear. According to the calculation results of the import data of the United States International Trade Commission (USITC), the average landed cost of footwear in July increased by 22.1% year on year, with an increase of more than 20% for the fifth consecutive month. Huacheng's import and export data observation report.

On the other hand, the American Association of Shoe Distributors and Retailers pointed out that the supply of shoes this year is expected to exceed the demand, indicating that the market price will decline in the future. So far, this year's footwear imports have increased by about 25.8% compared with the same period last year, but consumers' spending on shoes has only increased by about 4.8%.

The American Association of Shoe Distributors and Retailers said: "In general, we expect the increase in the retail price of shoes to remain high, but it will continue to slow down as we enter 2023."

According to Huacheng Import and Export Data Observation, Neil Saunders, general manager of GlobalData Consulting, said in a report to customers on Tuesday that the latest data "sent a useful signal" to consumers, easing some concerns about rising prices. However, Sanders added that given that the cost of living is still very high compared with a year ago, this benefit is "negligible".

Neil Sanders said in the report: "The decrease of non food expenditure is the direct reason for the decrease of consumer disposable income, and the decline of sales volume leads to retailers' discounts on products, which will help to curb inflation in clothing, household goods and other categories."

To be sure, although the overall inflation rate has declined slightly, the current environment is not "conducive" to the strong growth of retail sales. The report released by Adobe on Monday showed that the online sales price in August rose 0.4% year on year and 2.1% month on month. Huacheng Import and Export Data Observation reported.