Furniture giant Ikea has decided to increase prices by around nine per cent worldwide due to the difficulties associated with commodity and supply chains, INGKA Holding, the owner of the majority of Ikea stores, said on Thursday.

"Prices will go up across Ingka Group markets, reflecting the changing economic conditions affecting all industries. The average of the increase in Ingka Group is around 9 per cent globally, with variations across Ingka Group countries and the range, reflecting localised inflationary pressures, including commodity and supply chain issues," Sputnik quoted INGKA as saying in a statement.

According to the press release, Ikea has lately been facing...