IKEA Iceland Not To Raise Prices Skip to content

IKEA Iceland Not To Raise Prices

IKEA Iceland promised in an advertisement last weekend that the prices listed in its catalogue would remain the same until a new catalogue is published in August, despite the depreciation of the ISK.

“It should never be the first solution to increase the prices at any company,” managing director of IKEA Iceland Thórarinn Aevarsson told Morgunbladid, adding that the inflation will grow out of control if everyone raises their prices by 30 percent. “It is irresponsible to play along in this silly game.”

“One cannot make everything affect the pricing, but Icelandic consumers are unfortunately used to being walked all over,” Aevarsson continued.

The reason that IKEA can avoid raising its prices is that when the catalogue is made the company tries to calculate the average currency rate of the coming season.

IKEA may however be forced to increase some of its prices in August if the economic situation remains unchanged, Aevarsson said. “What is worse is that the world market price keeps going up which means that productions costs increase as well.”

Click here to read more about the economic situation.

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