Reasoning Behind Upcoming Price Changes

 

The reasoning behind the upcoming price changes is as follows:

 

Currency pressures

There is current pressure of the value of GBP vs USD. Since September 2021, GBP has fallen from $1.38 to $1.32 – a fall of 4.3%. As goods and freight are paid in USD, this increases the landed price, although we have managed to offset some of this by booking dollars in advance.

 

Further increases to the cost of raw materials

Raw cotton has continued to rise and has now risen another 17% since September 2021 and 42% since January 2021. Polyester has again continued to rise by a further 19% since September 2021 and 24% since January 2021.

 

General inflation in the UK economy

Inflation has continued to rise within the UK, in 2021. In September, the RPI was 3.9%; and in October, it was 6%.

 

If you have any further questions about price changes, please do not hesitate to get in touch. 

 

Kind regards,