Ikea will cut prices on over 1,500 items by 15–25%, mainly across European
markets. Ingka Group (Ikea’s largest franchisee) and Inter Ikea Group (brand
owner) said they will deploy €1.2bn (~$1.4bn) to implement the reductions; exact
cuts and timing will vary by country. Notable ranges affected include Billy,
Hemnes and Poang. Ingka also plans a €70m package to offset inflation and FX
pressure in Asia and North America. Executives said the move aims to ease
persistent household financial strain amid high housing costs and lagging wage
growth.