After more than a year of consistent decline, the inflation rate on furniture has taken an unexpected turn in the UK, showing a notable increase.
According to recent data released by the UK Office for National Statistics, November 2023 marked a shift in the pricing trends for various furniture categories. Household furniture, which had been steadily decreasing since November 2022 from 13.2%, experienced a slight uptick from 2.2% to 2.4%.
Similar upward movements were observed in other segments of the furniture market. Garden furniture prices surged from 3.9% to 4.3%, while the rate for lighting significantly jumped from 1.2% to 4.2%.
Furnishing fabrics showed an incremental rise, climbing from 2.8% to 3.1%, and table and bathroom linens followed suit, rising from 2.3% to 3%. This is mentioned by Interiors Monthly.
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Interestingly, the inflation trajectory in flooring has been more varied. While it had previously fluctuated, November 2023 showcased a distinct deviation from the pattern. The inflation rate, which had seen fluctuations, finally broke the cycle, dropping from 7.7% to 5.7%. Notably, this rate had surged to 9.4% in September 2023 after holding at 9.3% in November 2022.
Moreover, price hikes for carpets and rugs saw a decline, dropping from 8.7% to 7.1%, marking the lowest rate observed in the year. Smooth flooring experienced a similar downturn, with increases plummeting from 3.9% to 1.7%, marking another low for 2023, says Interiors Monthly.