Furniture retailer IKEA Group has increased prices by 3% in Britain to compensate for a slump in sterling after the country’s decision to leave the EU, which has pushed up import costs. The Group imports many of the products it sells in Britain, meaning a fall in the pound raises costs for its business there. 

IKEA had sales of around 34 billion euros (£30.1 billion) in its fiscal year through August. 

Sales data for IKEA’s British business for that financial year has yet to be published. The unit had sales of 1.72 billion pounds in the previous financial year.