Beauty products are the most expensive since 2016
Although the COVID-19 pandemic is forcing us to adapt, not all beauty product sales have been negatively impacted by lockdown and containment guidelines. Items such as eye shadow, hair dye and face masks continued to fly off the shelves while other categories such as lipsticks and foundations fell out of favor.
Now, more than two years into the pandemic, people have put back to wearing lipstick and other beauty favorites. Unfortunately, as the rate of inflation has risen, prices for beauty products have risen, according to a report from the US Bureau of Labor Statistics Consumer Price Index.
The report separates personal care products into two main categories: one which includes hair, dental, shaving and miscellaneous personal care products and another for cosmetics, perfumes, bath and nail preparations and instruments. . From August 2021 to August 2022, the report states that prices for the hair and dental care category increased by 7.6% while prices for the cosmetics and fragrance category increased by 4.2%.
The cosmetics and fragrance category saw a price increase of 2.3% between July 2022 and August 2022 alone, according to the report States. The cost of products in the hair and dental group also increased, but only by 0.8%. Beauty services are also becoming more expensive. Haircuts and other personal care services now cost 4.4% more than in August 2021. There was also a 0.7% increase from July 2022 to August 2022.
Some industry experts are already feeling the effects of this inflation. “Every brand I regularly order from has emailed about a price increase due to supply, demand, and the COVID-19 pandemic,” makeup artist Lavona Woods share with Seduce. She noticed that the costs of foundations, skin care products and beauty tools, in particular, were increasing.
Because of the higher prices, she says she tries to wait for sales, trade shows or special events to buy what she needs for her studio and equipment. Now, finding substitutes for his favorite products that border on overpriced is not easy. “If something isn’t available or the price seems too high, I have to go with a cheaper option or substitute,” she says. “And sometimes I’m disappointed and realize it was a waste of money.”