Jewellers battling soaring costs as rising prices hit trading

Julie Usher said resin had gone up by 12%, bracelet and necklace chains now cost 12% more and gift boxes had jumped 6%

Jewellery business owners say they are dealing with "cost on cost on cost" as the rising prices of materials hit trading.

Julia Usher, who runs Ashes Memorial Jewellery, in Burton-upon-Trent, Staffordshire, said gold, resin, chain and gift boxes prices had all gone up.

She said she was trying not to pass on the rises, but 2022 was going to be "a very, very, very tough year".

Prices overall are rising by 7% a year - the highest rate for 30 years.

Ms Usher said resin had gone up by 12%, bracelet and necklace chains now cost 12% more and box supplies had jumped 6%.

"It's just cost on cost on cost," she said.

Sandra Bent, from Hockley Jewellers, in Birmingham, said the rises affected everyone.

Sandra Bent said she was trying not to pass on the increases to customers

"Energy's gone up. Everybody's suffering a little bit," she said.

"The diamonds have gone up. Gemstones have gone up.

"We're doing our best to keep everything as low as we possibly can to pass on to our customer, but it is quite tough out there at the moment."

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Ms Usher said businesses were also facing falling sales which added to the problem of rising costs for key materials.

"Certainly in my lifetime I've never seen customers' confidence being this low.

"I've been in retail for 20 years and I've seen recessions and this for me, is going to be one of the biggest challenges for business owners.

"I think 2022 is going to be a very, very, very tough year for all of us."

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