Brexit added £210 to household food bills across the 24 months to the end of 2021, new research suggests.
Analysts from the Centre for Economic Performance (CEP) at the London School of Economics said extra checks and requirements on goods crossing the border has increased food prices by 6% overall, burning a £5.8bn hole in consumers’ pockets.
The rising costs have likely hit poorer people harder, as those on low incomes tend to spend a greater share of their pay packets on food, the CEP found.
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While the UK did not officially leave the EU until the start of 2021, the researchers said suppliers likely priced in the predicted disruption.
Although the Trade and Cooperation Agreement ensured trade between the UK and EU remained tariff free, the deal lacked “depth”, with “non-tariff barriers” such as new customs checks impacting the price of moving goods.
It appears either EU exporters or UK importers, or both, are facing…
