Ikea owner warns of price rises as supply chain crisis takes toll

Profits fall as group says keeping stores and warehouses stocked has been a challenge'

The prices of Ikea furniture and homeware are to rise as a result of lasting disruption to its supply chain, the brand's owner has warned, after increased costs of raw materials and transport knocked its full-year profits.

Inter Ikea Group, the parent company of the Ikea brand, which is operated by a string of franchise businesses, said it expected challenges in its supply chain to last well into 2022.