Furniture production prices rose during December as material costs and factory gate prices increased.
According to the latest Office for National for National Statistics (ONS) data, the Producer Price Inflation (PPI) index saw the rate of furniture output prices, factory gate, rise 11.5% in December on the same month in 2021. The rate also increased from a rise of 11.2% in November.
Furniture input prices, material cost of production, were up 8.8% in December on the same month last year, while also up from a rise of 9.5% the previous month.
Overall, producer input prices rose by 16.5% in the year to December 2022, down from 18.0% in the year to November 2022, and down from 20.2% in the year to October 2022. Producer output (factory gate) prices rose by 14.7% in the year to December 2022, down from 16.2% in the year to November 2022 and down from 17.5% in the year to October 2022. On a monthly basis, input prices decreased by 1.1% and output prices decreased by 0.8% in December 2022.