UK furniture prices to grow as the war in Ukraine raises the cost of timber
Posted on April 25, 2022 |
- The Forest Stewardship Council suspended all trading certificates in Russia and Belarus, which is blocking all sourcing from the two countries, but the knock-on effect has been higher prices as firms race to find alternatives.
- The Forest Stewardship Council banned imports out of Russia, which pressured other countries that supply timber and is increasing the price of timber.
- UK furniture manufacturing is focused on sofas, chairs, and tables, is worth almost £13bn a year to the economy, however, a wide range of materials including hardwoods such as birch, beech, and oak, along with fabrics, foam, fiber, steel, and MDF increased in price.
- High furniture prices are making living costly in the UK and inflation is at 7%, the highest level in three decades, with furniture prices up 17%,
- The invasion of Ukraine is showering more pressure on British furniture makers who had been sourcing timber from Russia.