NEW YORK (CNN/Money) - The Consumer Product Safety Commission is preparing to announce new standards for mattress flammability by the end of October, rules that could cost the industry $100 million annually, according to a published report Monday.

USA Today quotes CPSC Chairman Hal Stratton as saying the new rules will require use of flame-resistant material in mattresses and furniture.

The four largest U.S. mattress manufacturers -- Sealy, Serta, Simmons and Spring Air -- are all privately held companies.

Mattress fires are linked to nearly 500 deaths and 2,220 injuries a year, while upholstered furniture fires cause about 440 deaths and 1,100 injuries, according to the paper's report.

The National Association of State Fire Marshals petitioned the CPSC 10 years ago to establish such safety standards for mattresses and furniture.

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The paper says the CPSC has been criticized by safety groups about its standards recently. It reports the agency will release a report Monday that defends its relaxation in 1996 of flammability rules for tight-fitting children's sleep wear, saying it will show none of 213 children who died in fires from March 2003 to June 2004 were wearing the tight-fitting sleep wear.