Shortage of furniture and rising prices

Shortage of furniture and rising prices

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In 2021, it was all about furniture shortages. As Nick Daniels from Furniture Fair said last September, “We have some things coming from Asia where we are now waiting a year!”

Highlights

  • Ikea has just announced it is hiking prices an average of 9%. But, the Guardian, using prices from last year’s catalog, found Ikea’s Malm Desk is up 50%. Plus, it claims the popular Hemnes Bed is up 30%. Ikea tells Guardian it is simply passing along supplier price hikes, and says its furniture remains very affordable.

  • Then, in 2022, those shortages are finally starting to ease, but prices are up, sharply in some cases.

December retail sales slide 1.9% amid shortages, omicron

From the Doesn’t That Stink File — the soaring cost of moving into a new home. Home prices are up 20% in the past year. It will cost you 10% more for furniture for that new house, according to the government, and 9% more for appliances. But, wages only grew 3% in 2021, which may leave you saying doesn’t that sink.

It might be worth checking some used furniture stores where you may be able to find a used kitchen or bedroom set for much less, and it will be stock. As always, don’t waste your money.