Interview

Ikea Ireland exec ‘only sees prices coming down’ after inflation hikes

Retail giant set to opens its first Irish distribution centre today, which it says will cut delivery times

Marsha Smith, deputy chief executive of Ikea Ireland and UK: “The opening of this new distribution centre not only demonstrates Ikea’s desire to become more accessible to our customers in Ireland, but also our commitment to sustainability and innovation”

Ikea will continue to reduce prices across a range of items here, according to a senior executive at the retail giant.

At the end of 2021, Ikea increased the average price of products in its Irish shops by over 11 per cent due to rising supply chain costs. Inflation at the time averaged at 9 per cent globally.

However, the firm has indicated that it is ready to begin reversing hikes “as fast as [it] ...