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Furniture Prices in the UK Are Rising
High street retailers are a great place to find affordable furniture. You can find furniture from long-established homewares brands, such as John Lewis, as well as the latest fashion labels. Many of these stores offer regular updates of their product lines, which keep prices down. If you are looking for cheaper alternatives, try visiting a discount store.
Garden furniture prices have doubled in price this year Prices of garden furniture have risen significantly this year, driven by soaring raw material costs and increased demand for products. This has led to a shortage of the raw materials, such as timber, which is used to make garden furniture. The cost of shipping containers has also increased. Many retailers, including Wickes and B&Q, have cited this problem as a key reason for the price hike.
According to Which? retail editor, prices of some popular garden furniture items have increased by more than two-and-a-half this year. This means that it's important to shop around before making your purchase to get the best value for money. You can also explore the second-hand market to find cheaper pieces. If you can't afford to buy brand new garden furniture, you can save money by repairing and refurbishing your existing pieces.
Ikea's price hikes are due to increased shipping container costs The price hikes announced by the Swedish furniture giant IKEA in the UK and US stores are based on the increasing costs of shipping containers. The cost of shipping containers is up to eight times higher than a year ago. These increases are not uniform across the board and may affect only certain items. IKEA is not the only retailer suffering from this problem. Other retailers are also feeling the pinch of increased shipping container costs. As a result, their supply chain is stretched to the breaking point.
Increased shipping container costs have driven up the costs of raw materials and transport. This has prompted Ikea to increase prices by as much as nine percent in the short term. Prices are expected to rise even more in the coming months. The increase is expected to affect stores around the world, but will vary depending on local inflationary pressures.
As a result, IKEA has begun chartering extra loaders and vessels to ensure that it has adequate supply. It has also worked with its partners to secure adequate logistics capacity and raw materials. While this has caused some disruptions, the retailer said it has not had a major effect on its sales.
Discount stores offer cheaper versions of high street brands Many discount stores offer cheaper versions of well-known high street brands of furniture. For example, Debenhams is one of the UK's largest department stores, but now trades exclusively online. It offers a range of household names, including Calvin Klein, Birkenstock, Hobbs, and Regatta. It's also a good place to buy electricals and gifts & toys.
War in Ukraine pushes up cost of key materials The war in Ukraine is pushing up the cost of key materials used in furniture making. These include wood, steel, fibre, foam, and fabrics. The price of these materials is increasing dramatically, feeding into the high cost of living in the UK. At the moment, UK inflation is running at 7%, which makes a rise in furniture prices all the more worrying. War in Ukraine also puts more pressure on British furniture manufacturers, as they source their timber from Russia.
A lack of supplies from Ukraine has forced manufacturers to raise prices. Fuel for trucks costs 850 euros and manufacturers are passing the costs onto consumers. The war has also devalued the Ukrainian national currency, which is hurting the country's economy. While humanitarian aid was flowing into the country at the start of the conflict, it has slowed to a trickle.
Meanwhile, raw materials, particularly steel, have also been pushed up. This week, crude-oil prices climbed to an eight-year high. The crisis in Ukraine has also resulted in new cost records for wholesale gas. The price of oil and gas directly affects the cost of transport and manufacturing in the supply chain. Some companies, like Ikea, have announced significant price hikes on their products.

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