After two years of declining apparel prices, the latest batch of government reports shows consumers are finally spending more on T-shirts and sweaters.
According to the Consumer Price Index released Wednesday, the apparel index in February posted its largest increase in seven years, rising 1.6 percent. It was the second straight month of higher apparel prices, after they ticked up 0.6 percent in January.
Prior to January, apparel prices had fallen for four straight months.
This inflection signals that retailers' efforts to trim their inventories — and as a result, drive more full-price selling — are starting to take hold. But it's still too early to call victory.