Flooring inflation finally falls
March 22, 2023
The relentless rise of flooring inflation has finally eased despite a suprise increase in the general rate of inflation.
Despite an easing of inflation in the furniture sector, floorcoverings have been resistant to the fall in recent months but the latest data from the Office for National for National Statistics (ONS) shoes the rate is down to 10.4%
Last month, floorcovering inflation was at 12.2% so the fall is a welcome respite for the trade - but prices are still high, this time last year flooring inflation was 9.4%.
Furniture and furnishing prices rose by 10% in February, down from 11.1% in January, while also declining from 14.4% compared to the same month last year. This marks the sixth consecutive month of easing price inflation for furniture and the lowest rate in well over a year.
The general Consumer Prices Index for the UK was expected to fall below 10% this time but in fact increased to 10.4% from 10.1%, due apparently to higher food prices, especially vegetables.
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