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Inflation slows for flooring
December 21, 2023
Finally retail price inflation in flooring is falling with a 2% drop after months of bucking the trend with persistently high prices.
The latest data from the Office for National Statistics (ONS) for the year to November shows floorcovering inflation at 5.7% compared to 7.7% in October. This is the lowest inflation figure for the sector since February 2021.
Until now, flooring inflation has not tracked down in line with the rate general retail price increase even though the furniture industry overall has fallen quickly.
But the headline statistics mask a great and continuing disparity between carpet and other types of flooring. Price increases in LVT and smooth flooring have almost plateaued at 1.7% (compared to nearly 4% last month) but carpet price inflation is still running at 7.1% (8.7% last month).
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