The price of clothing is set to increase in 2022

The price of clothing and accessories is set to increase in 2022, despite the easing of coronavirus woes. Data from the McKinsey and BoF State of Fashion 2022 report show an average price increase of 3 percent across apparel categories.

While a recovery to pre-pandemic levels is set for 2022, with growth rates forecast between 3 and 8 percent, shoppers will have to reconcile themselves to price jumps in everything from hats to bags to shoes, reported Fortune.

Luxury brands have incrementally increased prices throughout the past year, but this has less to do with inflation than strategy. In the report, 15 percent of executives in a poll said prices would be increase by more than 10 percent in 2022.

A continuation of supply chain woes, stock shortages, transportation bottlenecks, and rising shipping costs straining supply and demand, according to the study, which surveyed more than 220 international fashion executives and experts.