While most consumer goods, such as food and medicine, have grown more costly over time, clothing has become cheaper. The statistics are shocking.
According to KQED News, in 1960, the average U.S. household spent more than 10% of its income – the equivalent of about $4,000 in today’s dollars – on clothing and shoes. By 2013, that number had dropped below $1,800 – less than 3.5% of the average household budget.
Lower prices are driven by overseas production where labor is cheaper. In 1960, 95% of clothing Americans wore was made in the USA. By 2013, it was less than 2%.