Floor price inflation gathers pace
March 24, 2021
Consumer price inflation for flooring has accelerated to over 5% according to the latest ONS data, and pressure will only increase on retail re-opening.
The Office for National Statistics says that carpet and flooring retail prices were 5.2% higher in the year to February, up 220 basis points on the 12 months to January reading.
This runs counter to the home furniture sector that showed a reduction in retail inflation down to 3.3% for the year to February compared to a 4.5% figure in January.
Overall, the UK's retail inflation rate unexpectedly fell to 0.4% in February, down from 0.7% in January, as the cost of clothes and second-hand cars tumbled.
The flooring figures are likely to be only the start of things to come as retailers receive regular price rise notifications from manufacturers, importers and wholesalers. Well-documented supply chain issues including synthetic fibre shortages, shipping constraints, Covid and Brexit are compounding to create a challenging scenario - especially for importers.
The pricing impact of these factors will not be fully appreciated until flooring retailers re-open in April.
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