Brexit sparks food price hikes

Brexit sparks food price hikes

Suppliers are warning of price hikes in the wake of the UK’s momentous decision to leave the European Union. A weaker pound has already caused some companies that specialise in products and ingredients from the continent to introduce blanket price increases of up to 10%. A recent survey by the British Hospitality Association (BHA) revealed that 74% of industry bosses wanted to remain in the EU, citing concerns that a Brexit vote would impact on staffing (30% of the hospitality workforce is made up of migrant workers) and that the uncertainty in the aftermath of leaving the EU would hamper business growth. But the BHA is bullish about the industry’s prospects, highlighting that a weaker pound would be a boon for tourism and leisure.

Source: Restaurant Magazine, July 2016

Search News

Jul 18, 2023, 4:12 PM
Feb 15, 2023, 5:20 PM
Mar 1, 2022, 2:02 PM
Mar 16, 2020, 9:14 PM
Jan 14, 2020, 7:53 PM

See list of all news articles