Ikea is hiking prices by up to 50% as shoppers face cost of living crunch in 2022

IKEA has hiked prices of furniture from beds to wardrobes in the latest cost of living crunch shoppers have been hit with.

The Swedish retailer has confirmed that it has increased the cost of goods by 10% on average, but it has been reported that prices of some essential furniture have gone up by as much as 50%.

According to analysis by the Daily Mail, prices have gone up by up to 50% – such as the shop's Malm desk, which increased from £99 in mid-December to £150 this week.

While a Hemnes daybed has reportedly gone up from £215 to £279, and the price of the Klippan two-seater sofa has jumped from £199 to £299.

A spokesperson for Ikea told the Daily Mail: "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 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."

Ikea isn't the only retailer to have hiked prices.

Most read in Money


Nationwide went down AGAIN on New Year's Eve – just days after last outage


Martin Lewis site explains starting 1p challenge this weekend will save £670


Thousands of families can get £160 for food and gas bills next year


Santander accidentally pays out £130MILLION to thousands on Xmas Day

Heinz said that it is raising prices of products including ketchup and baked beans.

While the cost of train tickets, groceries and going out could be up to hundreds of pounds more for consumers as inflation bites families' finances.

The price rises are in part down to a global increase in shopping costs, and a crippling HGV driver crisis that is hitting retailers up and down the country.

Experts estimate there is a huge 100,000 shortfall in drivers.

Morrisons has warned that this could mean food prices will rise across its stores.

Rocketing prices of fuel, goods, bills and more has experts concerned, with Citizens Advice estimating that one in ten families are on the brink as the cost of living crunch starts to bite.

The organisation fears 3.2 million households are facing financial crisis and said millions would be in the red or unable to cover the cost essentials this winter.

We pay for your stories!

Do you have a story for The Sun Money team?

Email us at [email protected]

    Source: Read Full Article