For evidence of inflation, look no further than kids' feet
CBSN
Americans are paying more for everything from furniture to groceries to holiday toys as supply-chain snags help drive prices higher. Another place where parents are feeling the pinch? Their children's feet.
In September, kids' shoe prices around the U.S. were up almost 12% compared with a year ago, according to the Bureau of Labor Statistics — more than double the overall price increase for consumer products last month. Children's shoes now cost more than they have in 70 years, the Footwear Distributors and Retailers of America (FDRA), a trade group that represents more than 500 companies, estimated in a letter to President Joseph Biden last week.
The main driver: Trump-era tariffs on imported footwear from countries including China and Vietnam, where most children's shoes are made, said the group, which is lobbying for a cut in those levies. The tariffs account for nearly a third of the retail price of some kids' shoes, according to the FDRA.
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