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Inflation rises to 7% in April 2022, will this affect Double Glazing Costs?
UK inflation has risen to 7% – the highest rate it has been for 30 years.
Surges in the price of fuel, energy and food are putting increasing pressure on household budgets.
Why has inflation risen so much?
- Fuel costs are the biggest contributor – average petrol prices rose by 12.6p per litred between February and March 2022, the largest monthly rise since records began in 1990.
- Household bills have risen dramatically- from 1 April 2022, about 18 million households on standard tariffs saw their annual bill jump from £1,277 to £1,971 – an average increase of £693.
So will we see this affect the cost of double glazing? The answer is most certainly yes. There is a significant amount of energy used in the production of glass and as mentioned earlier the largest contributor to inflation has been the costs of fuel/energy prices.
The word on the street within the double glazing industry is that the costs to produce glass and the components within the glazing structure have risen by 15%.
Manufacturers will not be able to absorb these costs for long and will at some point have to pass these increases onto the consumer.