Old Navy is committing to pausing price hikes on select kids' clothing through the end of September to help families with their back-to-school shopping amid record-high inflation.
– which measures a bevy of goods including gasoline, health care, groceries and rents – rose 8.5% compared to a year ago, the fastest pace since December 1981, when inflation hit 8.9%. Prices jumped 1.2% in the one-month period from February, the largest month-to-month jump since 2005.rose 0.5% in March from the prior month.
Sales at U.S. apparel retailers rose 2.6% month-on-month in March and 7.3% compared to the same period a year ago.
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