In the News
IKEA lifts prices as lower currency hits costs
16th November 2017
A good example here of a business raising their prices following an increase in import costs after the depreciation of sterling against the Euro and US dollar in the wake of the June 2016 Brexit vote. IKEA remains highly profitable. But note their focus on climbing towards a 15% global furniture market share objective over the next decade.
Ikea counts the cost of Brexit as furniture import prices soar https://t.co/vj3nrDwe8r pic.twitter.com/8qQOOrjBCP
— Bloomberg UK (@BloombergUK) November 14, 2017
Ikea increases prices on some of its products in the UK as a result of higher import costs after slump in sterling following Brexit vote https://t.co/mgmmehp4Kc
— Sky News (@SkyNews) November 14, 2017
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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