15-02-09 buy now, beat the price increase
We have seen the steep decline in the value of the UK pound in the last quarter of 2008 and this has continued this year.
The benches from 4memorialbench.co.uk are imported from Thailand and Vietnam and are paid for in US Dollars. This means that as the pound falls against the dollar, the higher the price to import the goods into the UK. For example a $300 bench purchased last year at a rate of 1.9 dollars to the pound would have cost us £157.89, the same bench at the current exchange rate of 1.45 dollars to the pound will cost us £206.89. This means that exchange rate price inflation for us is 32% for our imported benches.
If the exchange rate stays at this level for the next month our prices will have to increase.
We are holding 2008 prices for now because we still have stock left from 2008, when this runs out and new stock has to be paid for, our prices will have to increase.
Our opinion of government statements that they expect inflation to stay low is incorrect. We have a balance of payments deficit, we import more that we export, imports are paid for by buying dollar and euro currencies and the pound is trading at low levels against both of these currencies.
Lasted government ideas of "printing money" will only make this situation worse.
In our opinion there is no better time to buy a teak bench, we look forward to talking to you soon.