British Furniture Manufacturers

Record rise in the retail price of furniture while costs for UK manufacturers up 22% on last year

15 December 2021

Record rise in the retail price of furniture while costs for UK manufacturers up 22% on last year

The cost of materials and fuel for UK furniture manufacturers continue to rise, with the latest figures from the Office of National Statistics showing an increase in November over that month last year of 22.1%. This is the 4th consecutive month where cost increases have been above 20%.

Furniture retail prices reached another all-time high in November, following previous records in the preceding 2 months. Prices were up by 12.2% on a year ago.  The annual rises recorded in October and September were 11.3% and 10.5% respectively.   

The factory gate price of all UK furniture destined for the home market was up by 4.7% on November 2020.   

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 4.6% in the 12 months to November 2021, up from 3.8% in the 12 months to October.

The Consumer Prices Index (CPI) rose by 5.1% in the 12 months to November 2021, up from 4.2% in October.

The Retail Price Index showed an annual rise of 7.1%, up from 6% the previous month.

The weekly value of furniture (incudes lighting) retail sales for November 2021 was 9.4% up on the same month in 2020 and 2.4% on 2019.  The monthly value was £1.3 billion.  

This follows 2 months of declining retail sales in September and October where values on an annual basis were reported as falling by 6.9% and 5.8% respectively.

Related articles:
Third consecutive month of costs above 20%
UK furniture makers’ turnover and orders at record level
Household furniture prices rise by over 10% and manufacturers costs by nearly 21%
Costs for UK furniture manufacturers continue their relentless rise
Furniture manufacturers turnover up but still well below pre-pandemic levels
Furniture costs & prices rising sharply while retail sales hit a record high
Surge in demand for furniture ahead of shift to social spending
Retail prices and costs reach highs while Chinese imports surge

Join us

For more information: info@bfm.org.uk.

 

Back to news & blogs