Compared with the same period of last year, the prices of Furniture raw materials and labor have increased by 10% to 30%, and the furniture prices of various grades have also risen to varying degrees. The price of furniture interior materials, such as aluminum and stainless steel used in hardware, as well as the price of chemical materials such as paints and glues, are the main factors affecting furniture price fluctuations. If the price increase of furniture at the end of last year is somewhat implicit, it is more reflected in the fact that it is not easy to discount, the reduction of concessions, etc., so the price increase of furniture since the first half of this year is obvious. The price hike has now swept through most of Guangdong's furniture products. Compared with the same period of last year, the price increase of wooden furniture has exceeded 10% this year. On the issue of rising and not rising and rising, the furniture manufacturers may feel deeper than the distributors. Many furniture manufacturers in the Pearl River Delta said that they will continue to adjust prices in September and October to cope with rising raw material prices, which will increase by 10% to 15%. Wang Hunt, the executive secretary of the Dongguan Famous Furniture Club, said that under the pressure of rising costs, "some small furniture companies have closed down." In addition, as a labor-intensive industry, labor costs are one of the main components of the overall price of the furniture industry. The new "Labor Contract Law" was officially implemented on January 1 this year. Enterprises must pay five insurances for their employees, such as pension, unemployment, work injury, maternity and medical care. This has undoubtedly increased the labor costs of furniture companies, and the already very meager profits will be forced to “shrink†due to the increase in labor costs. In the next 10 years, tight timber supply and rising prices will be the overall trend of the industry. The domestic furniture industry is facing continuous and huge cost pressures. Shortage of resources, rising prices of raw materials, and rising prices of household products, including furniture, are the general trend in the future. Commercial Furniture,Commercial Office Furniture,Commercial Desk,Commercial Lounge Furniture NINGBO CHEN WEI SUPPLY CHAIN MANAGEMENT CO.,LTD , https://www.chenweifurniture.com