Furniture and furnishing prices rose at slower rate compared to last year as UK inflation rises in the year to August 2016, but remains unchanged from July.
According to the latest figures from the Office for National Statistics, the Consumer Prices Index (CPI) rose by 0.6% on last year, with the main contributors coming from a rise in food and air fare prices.
Within the Furniture and Household sector, prices rose by 1.4% on last month, although the rate slowed from its 1.7% rise back in August 2015, as ‘a range of furniture items’ contributed to the outcome.
In terms of annual movements, the furniture and household category stood at -1%, down from -0.8% last month, the lowest since July 2006 (-1.3%).
Breaking down the category, furniture prices rise by 2.9%, again at a decelerated rate from 4.2% in August 2015, whilst carpets and floorcoverings saw prices rise by 1.3%, 0.1% up from the same period last year.
The ONS also reported that inflationary pressures are mounting for UK businesses that import materials as figures revealed an significant upward shift in prices.
According to the Producer Price Index, materials and fuels bought by UK manufacturers rose by 7.6% compared to an increase of 4.1% last year, the fastest price growth since December 2011.
The price of goods leaving the factory also rose 0.8%, compared with a rise of 0.3% the previous month.