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Consumers may be faced with rising clothing prices right as the holiday shopping season begins.
The U.S. is facing an uptick in cotton prices because of drought impacting production in the U.S., according to NRF’s chief economist Jack Kleinhenz.
It's a repeated trend, according to Kleinhenz, who noted that cotton prices climbed a decade ago when "there was significant drought affecting world production."
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As a result, retailers were forced to use artificial fibers as a substitute for cotton, Kleinhenz said.
"Last time this happened it added about $1.50 to $2 to a cotton T-shirt," he said, noting that "retailers will try to hold the line on higher prices so as not to lose the store sale."