Retail price inflation in the flooring sector is still climbing despite some easing in the furniture sector as a whole.
Inflation in the flooring retail sector was expected to stabilise but latest data from the Office for National Statistics (ONS) shows it has risen nearly 2% from September's figure of 7% to 8.7% for October.
Flooring inflation is almost half that of the furniture sector as a whole, though rising prices in furniture shows a small decline in the latest figures, down to 13.7% for October from over 14% last month.
A large part of flooring inflation is exascerbated by the situation in LVT and vinyl sectors but sustained pressure on raw material costs is now being offset by the rapidly reducing prices for shipping containers, in some cases 25% of the price this time last year, which reduces the cost of imported goods, especially from Asia. This is expected to reduce flooring inflation by next month.
Latest data from the Office for National Statistics (ONS) shows general inflation has hits 11.1% – a 40-year high – as energy bills and food prices drive up the cost of living – the highest for 41 years, a figure not seen since October 1981