British Clothing Prices Will Rise Or Break 10% Next Year.

Britain Chain clothing store Next warned on Thursday if cotton Prices continue to rise, Britain Consumer The percentage of spending increases on clothing will be two digits next year. This bold prediction also overturned Next's prediction two months ago when the company estimated that the price of clothing would increase by 5% to 8% next year. However, cotton prices rose by only 20% in October alone, so Next said that clothing prices will rise by 8% in the first quarter of next year and 10% next spring. Next currently has 500 stores and 2 million 600 thousand online and directory consumers.

The company points out that the real culprit of rising clothing prices may be speculative bubbles. Cotton prices have surged by 90% in the past 12 months amid rising demand in China, declining production in India, floods in Pakistan, and speculation by investors seeking profits. The Bank of Commonwealth of Australia said: "sustained rigid demand, the delayed rainy season in India cotton growing areas and the activity of speculation will all keep the market going."