Footwear Distributors and Retailers of America (FDRA) said footwear prices rose 7.0 percent year-over-year, second only to May’s fastest year-over-year increase in 33 years.
Prices for Men’s footwear were up 5.3 percent, women’s grew 6.8 percent and children’s gained 10.3 percent, all extending sharp gains in February.
FDRA President and CEO Matt Priest said in a statement: “Kids shoe prices continue to skyrocket because the Biden Administration simply will not use a pen to strike the 301 tariffs greatly increases prices at retail. These added tariffs, on top of already high shoe tariffs, are causing great harm to working-class families for no real reason. If we simply struck these 301 tariffs on kids’ shoes, we would see an inflation flatline to help families who have to buy shoes for growing children. If everything is on the table when it comes to addressing inflation, then ending 301 tariffs on kids shoes should be top of the list.”
