Furniture prices at the factory gate were 1 per cent higher in January 2015 compared to the same month last year, according to the Office for National Statistics.

The ONS said the figure represented a 20 basis point fall on the December 2014 figure, though producer prices remain stubbornly higher than other sectors of British industry.

The 1 per cent figure recorded in January is identical to that recorded in January 2014. Other sectors have seen sharper declines — particularly since May 2014 — as the price of oil has declined.

Overall producer prices — across all industries — were down 1.8 per cent in January compared to January 2014, widening from the -1.1 per cent revised figure for December.

Excluding the volatile petroleum, food, beverage and tobacco sectors, output prices at the factory gate were 0.5 per cent up on the same month a year ago, compared to +0.8 per cent in December. Input costs for manufacturers were 14.2 per cent lower in January year-on-year.

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