Carpet drives up flooring inflation
November 15, 2023
Retail inflation in flooring eased nearly 2% in October but carpet prices are keeping the index stubbornly high despite the furniture sector as a whole enjoying the lowest inflation for nearly three years.
According to the office for National statistics (ONS), retail price inflation in floorcoverings was down to 7.7% in the year to October but this masks the great disparity between carpet inflation at between 8 and 9% and the rise in vinyl and LVT pricing which is only around 4%.
The overall consumer price index across a full basket of goods reduced to 4.6% compared to 6.7% in September. However, the furniture sector as a whole is now enjoying inflation of only 2.3% – the lowest level for 34 months – which is seen as a sign of weak demand in the sector due to cost of living pressures on big-ticket purchases.
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