Ikea has confirmed price increases across all its UK stores, with an average rise of 10%, blaming rising supply chain costs. The flatpack furniture giant said the increases are above the global average of 9%.
Analysis by the Daily Mail found that some items have spiked by as much as 50%. A chest of Malm drawers rose from £99 in mid-December to £150, a jump of 52%. A Hemnes daybed frame increased from £215 to £279, and a Klippan two-seater sofa rose from £199 to £229, a 15% increase.
The price hikes were first noticed by customers online after Christmas. Ikea responded on Twitter, stating: 'Unfortunately, there has been a significant increase in costs across the supply chain, including in raw materials, transport and logistics. As this is still ongoing it is necessary to increase prices across many of our products.'
Retailers have been raising prices in response to pandemic-related supply chain issues, including a shortage of HGV drivers and workers off sick due to Covid. Inflation has hit a 10-year high of 5.1%, and the Bank of England recently raised interest rates from 0.1% to 0.25%.
Ikea first confirmed supply chain issues in September, with at least 1,000 product lines affected. A spokesman said: 'The effects of Covid-19 continue to evolve and impact industries all over the world. Since the start of the pandemic, Ikea has managed to absorb the significant cost increases... Now, like many other retailers, we have had to raise our prices.'
