Textile export inflation hits a new record, hitting 9% in August
Inflation continues to rise. In August, the textile industry’s export price index (Iprix) rose 9%, the same as in July, when it posted the highest increase since the historical series began in 2005.
For the eighth month of the year, iPrix for apparel grew 3.3%, similar to July’s growth of 3.8%.The leather and footwear industry performed similarly, growing 3.5% in August compared to July’s 3.4% growth.
The increase in export prices of the fashion industry is lower than that of the industry as a whole. General iPrix grew 18.4% in August, data released today by the National Institute of Statistics (INE) shows.
Textile fiber processing and spinning was the fashion sector that grew the most in August, with its export prices rising 12.5 percent. Textile fabrics followed, increasing by 7%.While the iPrix for knitwear manufacturing rose 4.8% in August.
In clothing manufacturing, export prices increased by 3.5% in August., while leather preparation, tanning and finishing prices increased by 3.7% in August. Footwear manufacturing iPrix grew 3.5%.
The Industrial Products Import Price Index (IPRIM) for textiles posted growth of 14.5% in August, the largest increase since April 2011.iPrime of apparel and leather and shoehorns up 8.8% and 5.9%, respectively, every August. The ordinary iPrime recorded growth of 30.2% in August.
Eprix is a short-term indicator that measures the monthly price growth of industrial products manufactured on the domestic market and sold on the foreign market. iPrime measures the price development of industrial products from the rest of the world. In order to achieve this, a continuous monthly survey is conducted, examining the industrial establishments operating in the overseas market every month.