Icelandic news translated into English

November 10, 2008

IKEA index number up 47%

Filed under: announcements,economy — newsfrettir @ 9:40 am
Tags: , , ,

IKEA index number by Stöð 2 has raised 47% since the product catalog from the Swedish store chain was distributed to the homes of the nation last year. It is unsure if the IKEA index number is a clue to the price raises on imported products is unclear – because the fall towards the Euro was 90% at the same time.

The bottom is about to fall out of the barrel when IKEA it self raises their prices. Every year the company has sent out the family friend IKEA catalog – and insures the prices in it for a year from the arrival to the homes. But now the depression breaks the law and yesterday IKEA announced price raises, average 25% raise.

Just as foreign market specialists have relied on the Big Mac index number – the IKEA index number by Stöð 2 a good clue to the price evolution in the country, specially how the prices of imported products from the euro area are likely to raise. But how much has the IKEA index number raised in a little over a year – since the catalog was sent out last year – and until the company was forced to pull the plug on the prices from the last catalog. Lets show an example.

Aril three seat leather sofa was last year 99900 ISK, is now 149900 ISK, and has raised almost 50% in a year. Linnarp book case raised from 29900 ISK to 49900 or 67%. Jonas desk raised from a little less than eleven thousand up to a little less than nineteen thousand, or almost 59%, Favorit 5 liter pot raised 56%, Nominell desk chair 25%, and finally Björnholmen media center raised from almost 40 to 50 thousand and raised 25%. So as we can see, the IKEA index number has raised by 47% in a little over a year, and the euro has raised by more than 90% towards the ISK.

(News Article by noname)
Original Article in Icelandic

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