Ikea has already raised prices significantly - but for customers of the furniture giant it is even thicker
Created: 03/03/2022Updated: 03/03/2022 05:42
By: Momir Takac
A typical IKEA furniture store.
© Manfred Segerer/Imago
At the beginning of the year, Ikea increased prices by an average of nine percent.
But customers of the furniture giant have to be prepared for further increases.
Delft - Due to rising energy prices, inflation in Germany is at record levels.
In fact, it has never been higher in the euro area.
And the war in Ukraine is likely to lead to further increases in consumer prices.
"The surge in prices for energy, raw materials and grain triggered by the war will further fuel the already high price dynamics," said ZEW expert Friedrich Heinemann.
The increased prices no longer only affect heating or fuel costs, other products have also become significantly more expensive.
Ikea is raising prices: customers of the furniture giant are feeling the effects of inflation
Like furniture.
The Swedish furniture giant Ikea had already increased prices at the beginning of the year - by nine percent on average worldwide.
The reasons given were disrupted supply chains, increased logistics costs and higher raw material prices.
Wood, for example, rose in price by more than 60 percent last year.
But that's not all.
Ikea prices are likely to continue to rise in the future.
As a company, we try to keep prices as low and constant as possible.
However, increases cannot be avoided at the moment, the furniture group told the
Süddeutsche Zeitung
.
Ikea: Increased demand also causes prices to rise
In addition to the price drivers mentioned, Ikea is struggling with another problem: the increased demand during the coronavirus pandemic.
This, combined with higher transport and raw material costs, is likely to result in even higher furniture prices in the long term.
"Supply cannot keep up with demand in many areas, so scarce goods are becoming more expensive," explained Jörg Zeuner, chief economist at fund provider Union Investment.
According to Jan Kurth, head of the Association of the German Furniture Industry, customers have to wait an average of two to three weeks longer for their furniture.
