UK: Food Bills Set to Rise By 12% With a No-deal Brexit, Supermarkets Warn

This week, the UK’s largest supermarkets issued a stark warning in The Times that a no-deal Brexit would force up the price of the average weekly shopping trolley by as much as 12%.

That figure is an average expected price increase, but some staples are expected to rise considerably more because of tariffs. For example, beef is expected to rise 40%, chicken 22% and cheese 44%.

WTO tariffs that would be imposed after a no deal exit are just one cause of potential price increases. There are other, less obvious but equally serious drivers that could affect food prices depending on the deal we strike with the EU.

The plunge in the value of Sterling since the referendum has seen the cost of imported meat rise considerably. For some meat processors who import up to 40% of their raw materials, this is a significant increase in costs some of which are resulting in higher prices to the consumer...

To Read Full Story Login Below.

Label Label
Foodmarket, a specialized media offering from Urner Barry, is the premier source of market news for the food industry.

POWERED BY
MARKETS
FORECASTS
SHOP
ADVERTISING OPPORTUNITIES
CONTACT US
LICENSE AGREEMENT
ABOUT US
BIOS
NEWS
All News
Red Meat
Poultry
Eggs
Videos
Podcasts
The Reporter
CONNECT WITH UB
DISCLAIMER
THE INFORMATION, PRODUCTS, CONTENT AND DATA ON THE SITE ARE PROVIDED “AS IS” AND WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. WE DO NOT WARRANT THAT THE FUNCTIONS CONTAINED IN INFORMATION, CONTENT AND DATA ON THE SITE (INCLUDING, WITHOUT LIMITATION, DERIVED CONTENT) WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SITE OR THE SERVERS THAT MAKE SUCH INFORMATION, CONTENT AND DATA AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. MOREOVER, YOU ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION. WE DO NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF ANY INFORMATION, CONTENT, DATA, PRODUCTS OR SERVICES CONTAINED ON OR OFFERED, MADE AVAILABLE THROUGH, OR OTHERWISE RELATED IN ANY WAY TO THE SITE, INCLUDING, WITHOUT LIMITATION, DERIVED CONTENT, OR ANY THIRD-PARTY SITES, PRODUCTS OR SERVICES LINKED TO FROM THE SITE IN TERMS OF THEIR CORRECTNESS, ACCURACY, COMPLETENESS, RELIABILITY, SAFETY OR OTHERWISE. APPLICABLE LAW MAY NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.