The Price Of Bedroom Furniture Has Gone Up Drastically

According to Producer Price Index (PPI) data collected from the U.S. Bureau of Labor Statistics exclusively by House Digest, the price of bedroom furniture has gone up drastically for domestic producers of furniture and household durables. While the selling price for non-upholstered bedroom furniture rose 7% between April 2018 and June 2021, PPl data shows an even more drastic increase since the beginning of 2022. All told, bedroom furniture prices paid to producers experienced an 18% increase from April 2021 to July 2022, for a 25% total change in PPI over February 2018 prices.

For those who have experienced supply chain disruptions and increased prices for consumer goods since the COVID-19 pandemic began, it's probably not surprising that domestic producers of furniture are selling their goods for increasingly high prices. According to Marketplace, inflation has been rampant at each stage of the production cycle, although there are promising signs that point toward inflation slowing down in earlier stages of production. While this may lead to lower prices for consumers in the future, those who have been on the lookout for new domestic furniture are bound to notice the increase in prices over the past year.

Inflation driving soaring furniture costs

With producers selling bedroom furniture to retailers at increased prices month-over-month, it's no surprise that consumers are feeling the massive dent in their wallets. In fact, according to CNBC, the summer of 2022 saw the cost of household furnishings and supplies of all stripes increase nearly 11% over last summer's prices. With inflation continuing to outpace many experts' expectations (per the New York Times), the price of consumer goods is rising steadily despite falling gas prices and decreasing rates of inflation at the early stages of the production cycle for a variety of goods.

If there's a silver lining to be found in recent PPI data for bedroom furniture, it can be seen in the diminishing rate of the price increase. For instance, while prices rose from 17 to 21% over February 2018's producer selling prices from December 2021 to February 2022, the BLS's data shows relatively minor price increases as of late. In fact, the most recently published data shows a minor change of 1% over February 2018 producer prices from May to July 2022. While updated figures from the Bureau of Labor Statistics will go a long way in determining the most up-to-date trajectory of domestic furniture production prices, consumers will likely have to adjust to paying more for domestically produced bedroom furniture.