In June 2021, the total revenue of British furniture manufacturing industry was nearly 800 million pounds

According to the latest data released by the National Bureau of Statistics, in June, the revenue of all furniture manufacturers in the UK reached a record monthly level of 779 million, an increase of 65.2% over 2020, an increase of 9.6% over that of 2019 before June.

This data also broke the highest revenue record of the same month in June set in 1998. However, compared with the same period in 2020, the cost of materials and fuel for British furniture manufacturers increased by 12.3% in June and 15.8% in July. Recently, the British furniture manufacturing Association (BFM) has repeatedly reported that the price of materials has increased sharply. Some have even increased by more than 60% due to strong demand and supply shortages. However, the latest price report in August shows little sign of weakening the rising trend of cost prices.

In the face of rising raw material prices, it is inevitable that British manufacturers will need to further raise ex-factory prices to try to offset the increased costs. In July, the ex-factory price of furniture increased by 2.3% year-on-year, higher than the 2.1% increase in the same period in 2020. In July, the retail price of imported and locally produced furniture increased by 6.9% year-on-year, higher than 6.6% in June, which is also the highest monthly increase since September 2017.