Clothes To Get More Expensive

Come next year, you may be surprised to see the cost of clothing being a bit more expensive. Since September, cotton prices have gone through the roof hitting 140 year historical highs.

New York Cotton futures for the March 2011 delivery has soared more than 80% for the year, briefly touching record highs last week.

If cotton prices stabilize at these levels, there is a very good chance that consumers will be paying more for clothing, towels and sheets as retailers like Walmart and The Gap have to pass on the additional costs.

Today, cotton prices fell some 2% after India, the second largest grower, announced that their output maybe higher than anticipated for the year.

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