Flooring inflation remains stubbornly high
April 19, 2023
Floorcovering price inflation remains stubbornly high and still in excess of 10% – above the rate for the furnishing sector generally – according to the latest data from the Office for National for National Statistics.
Carpets and other floorcoverings prices increased 10.3% during March, marginally down from 10.4% the previous month, but ahead of the rate for this time last year which was 7.4%.
Prices for furniture and furnishing generally rose by 9.2% in March, down from 10% in February, while also declining from 16.8% compared to the same month last year. This is the the seventh consecutive month of easing price inflation for furniture and the lowest rate in well over a year.
The data forms part of the monthly Consumer Prices Index (CPI) report which showed the overall consumer rate was 10.1% in the 12 months to March 2023, down from 10.4% in February. Analysts were predicting that UK inflation would finally fall below 10% but food and energy costs are continuing to impact the statistics hard.
Meanwhile, Producer Price Inflation (PPI) saw the rate of furniture output prices, factory gate, rise 10.7% in March on the same month in 2022.
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