Carpetright Warns of Higher Carpet Prices

London, England, Dec. 16, 2010 -- Carpetright, the UK's biggest floor covering specialist, said that soaring raw material costs will drive carpet prices up by as much as 7% over the coming months.

Lord Harris of Peckham also warned of a "difficult" year for retailers in 2011, as the 702-store chain posted a 28% decline in half-year underlying profits.

Lord Harris added that the price of polypropylene – the raw material for the 70 per cent of UK carpets that are man-made – has increased to nearly £1,200 per ton from £740 per ton last year.