Economics
Higher Food Costs Stalk Britons as New Year Brings Brexit
- EU border challenges may cost suppliers an extra $4 billion
- Higher costs will exacerbate food insecurity, charity says
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The supermarket sticker shock threatened by a no-deal Brexit has been averted, but British shoppers still may find prices creeping higher in the new year.
A raft of red tape plus new checks at the border could add 3 billion pounds ($4.1 billion) in costs for food importers, according to the U.K.’s Food and Drink Federation. That’s about an 8% increase -- some of which could work its way down to prices paid at checkouts.