Brexit: Food prices will not be a mere ‘bump in the road’
The IndependentSign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Just how much of a “bump in the road” might a five per cent no-deal-Brexit-related rise in food prices, warned of by Tesco chairman John Allan, be? If you add 5 per cent to it, then next year’s number comes out at £230 extra, just under £20 a month, which is chump change to a millionaire cabinet minister but potentially very painful to someone on a low income. Now, I realise that a five per cent increase in grocery bills won’t amount to £20 for a low-income family because they’ll likely be spending a lot less than £4,600 a year on grocery. But whatever a low-income family’s current bill is, a sudden increase of five per cent is still going to bite them, and potentially bite hard.