IKEA To Increase Irish Prices


IKEA To Increase Irish Prices

Jack Quann
Jack Quann

02:46 30 Dec 2021

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Furniture retail giant IKEA is putting up its Irish prices by an average of 11%.

The company says this is as a result of 'significant cost increases' across its supply chain.

Prices are going up across all its markets, "reflecting the changing economic conditions affecting all industries".

The average Irish hike of 11.2% is slightly more than the 9% average rise globally.

It says raw materials, transport and logistics have all become more expensive during the coronavirus pandemic.

An IKEA spokesperson says: "Since the start of the pandemic, IKEA has managed to absorb the significant cost increases experienced across the supply chain while keeping prices as low and stable as we possibly can.

"Now, like many other retailers, we have had to raise our prices to mitigate the impact on our business.

"As prices are influenced not only by the raw material prices but also by transportation, logistical costs and local market conditions, price adjustments differ from country to country.

"Whilst individual price increases vary, the average increase is 11.2% in Ireland, in line with the global average of 9%."

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