Power Inspired have always sought to offer the best value power protection solutions. As well as our own internal production we have products and materials manufactured abroad which are paid for in US Dollars.
In order to maintain consistency of pricing, we work on a system that sets a fixed exchange rate for the year. Sometimes the rate falls below this and sometimes it is above. However, in the last 12 months the uncertainty surrounding the referendum campaign followed by the Brexit vote itself has resulted in a substantial weakening of the pound against the dollar.
Over a year ago £1 would buy around $1.56. Today £1 buys you $1.20. This means that our products are 30% more expensive to produce than they were this time last year.
We have monitored the exchange rate of course and have not made knee jerk reactions to currency fluctuations, and we have been listening to our analysts advice on the timing of currency dealings. However, as we are in the process of investing in new stock it is not possible for us to absorb such a large increase in costs and have no option but to increase the majority of our prices although we have tried to minimise the increase as far as we can.
Of course nobody likes to have to pay more, but I believe that despite the price increase our products still represent great value and of course backed up with the service and support you’ve come to expect from Power Inspired.
Our account customers will be issued with the new price list shortly.
Thank you for your continued business.