By EMERY P. DALESIO
AP Business Writer
RALEIGH, N.C. – Furniture companies are raising prices despite fears that higher costs could kill off a rebound just as recession-shocked shoppers appear willing to spend.
Furniture makers are blaming higher labor and material costs for producing in Asia as well as trans-Pacific shipping fees. Industry insiders expect more news of price hikes after buyers and producers gather in High Point for the world’s biggest furniture trade fair beginning Saturday.
“I’m aware of a lot of manufacturers that are considering price increases in this upcoming April market. They will announce a price increase and they will see if their major retailers are willing to take it, and if not they’ll back off,” said Bob George, president of Atlanta-based Impact Consulting Services Inc., which advises furniture manufacturers and retailers.