Ikea raises prices worldwide by 9 per cent

Ikea will raise its prices worldwide by around 9 per cent this year, according to parent company the Ingka Group. A press release to this effect indicates that various countries and merchandise groups will be affected by this to varying degrees. The reason cited by the company is that it continues to be confronted by significant transport difficulties and shortages of raw materials. Further disruption is expected well into 2022. The highest cost increases due to transport and procurement costs are likely to be felt primarily in North America and Europe. "Unfortunately, now, for the first time since higher costs have begun to affect the global economy, we have to pass parts of those increased costs onto our customers," says Tolga Öncü, retail operations manager at Ikea Retail (Ingka Group), quoting the press release. In the current fiscal year, Ikea intends to open 30 new "customer meeting points" in a variety of formats, including both traditional stores and planning studios and inner-city stores with same-day delivery.