Garden furniture prices rocket as inflation hits record 40-year high

Combined furniture prices increased during April as overall inflation rise to another record high.

According to the latest Office for National for National Statistics (ONS) data, the Consumer Prices Index (CPI) rose by 9% in the 12 months to April 2022, up from 7% in March.

This is the highest CPI 12-month inflation rate in the National Statistics series, which began in January 1997.

Furniture and furnishing prices stood at 16.3% in April, down from 16.8% in March, while rising from 5.6% compared to the same month last year.

The retail price of household furniture fell to 16.5% in the month from 17.2% in March, while rising from 5.7% last year.

Garden furniture prices rose by 32.8%, up from 11% month-on-month, while carpets and other floorcoverings prices increased by 9%, down from a rate of 7.4% the previous month.

Other household textile prices, including furnishings fabrics, curtains and bedding, saw a rate of 4.2%, down from 7.1% the previous month.

The ONS said prices for furniture, household equipment and maintenance rose by 10.7% in the year to April. The contribution of 0.57 percentage points to the all-items rate was unchanged from the previous month, and is the highest contribution from this division in the National Statistics series from 2006.

Meanwhile, Producer Price Inflation (PPI) saw the rate of furniture output prices, factory gate prices, rise 7.6% in April on the same month in 2021, while down from a rise of 8% in March.

Furniture input prices, material cost of production, were up 20.5% in April on the same month last year, and up from a rise of 19.5% the previous month.

The headline rate of output prices overall showed positive growth of 14% on the year to April 2022, up from 11.9% in March 2022; this is the highest the rate has been since July 2008.

The headline rate of input prices overall showed positive growth of 18.6% on the year to April 2022, which is unchanged from March 2022; this is the highest the rate has been since records began.

On the month, the rate of input inflation was 1.1% in April 2022, down from 4.6% in March 2022. This is the first time the monthly rate has slowed since December 2021.

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