Ikea has increased the prices of its furniture by up to 80% over the last year, according to research by Retail Week.
The Swedish homeware retailer, famouse for its cheap furniture, said the increases were necessary because of surging costs for raw materials and transport.
Retail Week found that the price of Ikea’s Jokkmokk dining table and four chairs increased from £99 in 2021 to £179 in October 2022, a rise of 80%.
Meanwhile, its Glostad two-seat sofa went up from £90 in 2021 to £150 in October 2022, a 66% increase, and its Brimnes chest of four drawers rose by 47% from £85 to £125.
“We offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible are able to afford them. This remains our focus today and in the future,” an Ikea spokesperson told the retail industry website.
“However, we are not immune to the macro-economic developments that businesses, retailers and the public are currently facing, from the increased cost of materials and transportation to the war in Ukraine and inflation. It is critical that we are financially resilient for the long term, to ensure our longevity as a business and employer, and we have had to adjust our prices to reflect this increased cost base.”
The spokesperson added that the company had sought to protect the prices of its most popular and lowest-priced products.
