If you're a regular shopper, the past couple of years have probably been defined by walking down the aisles and bracing yourself for the latest price hike to your favorite sandwich, a pack of eggs, or even the stuff you bought to decorate your home. Now, though, there is at least one furniture store where signs of price cuts are finally starting to kick in.
Ingka Group, which owns 90% of IKEA stores globally, is planning to invest $1.1 billion to absorb cost increases and reduce the price of its furniture after months of high inflation battered customers’ wallets, its deputy CEO told Fortune.
