US apparel CPI fell -0.4 per cent MoM and -0.7 per cent YOY in May, but prices remain historically high.
Imports plunged -22 per cent after early tariff hikes, while spending on clothing rose +4.9 per cent YoY.
Consumer confidence dipped and overall spending slowed.
Tariff frameworks for August 1 propose higher rates, including 40 per cent on transhipped goods via Vietnam.US apparel CPI fell -0.4 per cent MoM and -0.7 per cent YOY in May, but prices remain historically high.
Imports plunged -22 per cent after early tariff hikes, while spending on clothing rose +4.9 per cent YoY.
Consumer confidence dipped and overall spending slowed.
Tariff frameworks for August 1 propose higher rates, including 40 per cent on transhipped goods via Vietnam.
US’ garment CPI down in May, spending rises despite tariff uncertainty
