Flooring retail prices finally fall
February 14, 2024
Flooring retail prices finally fell in January in marked contrast to the stubbornly high inflation in the sector during 2023.
The latest data from the Office for National for National Statistics (ONS) says floorcovering prices were down 0.5% in January compared to an inflationery rise of 4.8% in December.
This time last year, floorcovering inflation was running at over 12% and sustained month-on-month rises of around 8–9% for most of 2023 even while the furniture sector as a whole was running at half that rate typically.
The retail price of furniture in January decreased by 1.5%, down from a rise of 1.2% in December.
Overall, the Consumer Prices Index (CPI) rose by 4% in the 12 months to January 2024 says the ONS - unchanged from the rate in December and a little lower than analysts were forcasting.
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