Plumbing Fixture Costs UP
We’ve all noticed prices going up, whether it’s at the gas pump or the grocery store. Our plumbing supply houses have all announced price increases. The prices we pay for water heaters, filtration systems, even toilets, faucets, piping, and sealants, all have gone up in the last six months. Some costs have risen 4%; others 25%.
Tariffs – Here and Overseas
A big part of this price spike is due to tariffs imposed recently. A 10% tariff went into effect on all goods from China on September 24. In January that tariff will go up to 25%. One of our supply houses recently sent a letter to all their customers about the impact the looming trade war will have on our business. Their words: “Pricing is a fluid situation” and they can’t guarantee pricing beyond 30 days.
The bottom line? If you’re thinking about a kitchen or bath remodel, or even just replacing your water heater, water softener, toilet, sink, or tub, do it this year before the 2019 increased tariffs go into effect.