Funeral costs increased slower than inflation following CMA order

Summary:

The Competition and Markets Authority (CMA) has published an annual review of the funerals market, highlighting the continued positive impact of its Funerals Market Investigation Order 2021 on the costs paid by bereaved relatives when arranging a funeral. The review found that the average cost of funeral services, charged by funeral directors operating over 5 branches, decreased from u00a32,700 to u00a32,646 in real terms, despite a 4% increase in nominal terms due to inflation. The review also noted a rising trend towards unattended funerals, with 11% of funerals in 2023 being held without mourners, potentially linked to the COVID-19 pandemic and the desire to reduce costs. However, the CMA remains concerned about the rising cost of unattended funerals, which increased by 12% in 2023. The authority is taking enforcement action against funeral directors who fail to comply with the Order, with evidence suggesting that around 250 firms are not displaying necessary pricing information.