Ikea plans further price cuts as global inflation pressures start to subside

Brand owner Inter Ikea said this month input prices had begun to stabilise, and that promotional campaigns and lower prices on some popular products would be key to attracting cash-strapped shoppers

Ikea 'to continue focusing on lowering prices where we can.'

Ingka Group, the owner of most Ikea furniture stores, is planning additional price cuts as some input costs ease, its retail manager has said, a reversal from price hikes introduced last year to counter soaring inflation.

The world's biggest furniture retailer raised prices in its fiscal year to the end of August to pass on soaring raw material costs and supply chain disruptions. But it was able to lower some prices again towards the end of the period as stocks started filling up and supply chains recovered.