Survey: Prices of cotton products spike

April 14, 2011 5:10:39 AM PDT
A new survey estimates shoppers will pay 10 to 15 percent more on all cotton products like clothing and socks.

Cotton prices jumped to record highs over the last year due to a worldwide cotton shortage.

Producers and sellers say they are no longer able to make up the additional costs to their businesses so they are passing them along to consumers.

Eighty nine percent of manufacturers surveyed say they will work to replace higher-priced cotton with clothing made from fabrics like Lycra and rayon.