logo

Brexit blamed for a third of UK's food bill rise

Monday, 29 May 2023



LONDON, May 28 (Reuters): Britain's departure from the European Union has accounted for about a third of the increase in food bills for households since 2019, equivalent to about 250 pounds ($316), researchers from the London School of Economics and other universities said.
Britain has been battling inflation for over a year, partly driven by its highest rate of food price growth since 1977, with food prices up more than 19 per cent over the last year.
Although London and Brussels have an agreement allowing largely tariff-free trade in goods, barriers to exports and imports in the form of paperwork, known as non-tariff barriers, have caused delays and high costs.
The Centre for Economic Performance (CEP) study compared price changes for food products imported from the European Union with prices of food from further afield.
Before Brexit these products had similar price trends but after Brexit, there was a relative increase for products more exposed to imports from the EU.