16 February 2022
Record furniture retail prices while monthly making costs continue at 20% level
The Consumer Prices Index (CPI) rose by 5.5% in the 12 months to January 2022, up from 5.4% in December 2021. The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 4.9% in the 12 months to January 2022, up from 4.8% in the 12 months to December 2021. The Retail Price index rose by 7.8% in the 12 months to January 2022, up from 7.5% the previous month.
The retail price of furniture (RPI) sold in the UK rose to a new record level in January 2022. At 14.1%, it was up on the December figure of 12.5%. This is the 5th month in a row it has exceeded 10%.
The Office of National Statistics that produce these figures state that furniture is one of the largest upwards contributors to the rise in inflation between December 2021 and January 2022.
The cost of materials and fuel for UK furniture manufacturers maintained its high level in the 12 months to January 2022. At 20%, this is the 5th month that it has been at or above this level. The December figure was 21%.
Factory gate prices of furniture made for the domestic market rose to 5.2% in January 2022, the same as was recorded in December 2021.
At £1,316,682 billion monthly retail sales of furniture and lighting were up 51.3% in January 2022 over 2021 but 7.7% down on pre-pandemic 2019. For 2021 as a whole, weekly retail sales values were up by 14% in 2021 on 2020 but this followed a fall of 14% in 2020 over 2019.
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