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Could the cotton price impact upon inflation?

Each way we turn at the moment there seems to be a potential issue regarding UK inflation with the price of cotton seen by many as the latest problem. Due to the devastating floods in Pakistan and concerns regarding the cotton crop in China the price of cotton has increased to a 15 year high and will impact upon a variety of garments which have a high content of cotton.

We often take it for granted that cotton it is one of the main elements in an array of clothing in the UK as well as other everyday items such as duvet covers. While the retailers will obviously attempt to shield consumers from this rise as much as possible there is no doubt that if prices continue to surge then some of the increase will be passed on to the UK public.

However, on a more positive note, fashion retailer Next has today announced an increase in pre-tax profits and a belief that while the consumer market in the UK will be "challenging" in the short to medium term, the company does not expect the UK to experience a double dip recession. Let us hope that Next is correct!

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