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Makeup Prices Are Soaring as Social Events Eclipse Tight Budgets

Lipsticks on display in Shanghai, China.

Lipsticks on display in Shanghai, China.

Photographer: Qilai Shen/Bloomberg

US cosmetics prices rose in August by the most in almost 16 years as a return to office and social functions keeps demand resilient in the face of inflationary pressures.

Prices for makeup, perfume, bath and nail products rose 2.3% in August from a month earlier, the largest increase since December 2006. Compared with a year ago, prices in the category were up 4.2%, the largest increase since 2009.