We bring you news today that the prices of food and drink here in the UK are beginning to spiral as the effects of Brexit take hold. Before the referendum many experts who were Remainers warned us all that voting to leave the European Union would force prices up and they are being proved right.
Food, Drink & The Falling Pound
The main reason for the rise in prices of food and drink items is of course the falling pound. Sterling went rapidly downhill after the referendum result and this has led to a rise in the cost of imported goods which include food and drink.
So Brexit has not just led to a rise in the prices of imported food and drinks but it has hit this industry more than most others, due to the fact that a great many food and drink ingredients are imported in from other countries. The pound has dropped over 10% against the Euro which has made a huge difference to the cost of items from many European countries.
Wine Price Increases
Wine is very much a case in point. Although the wine industry in the UK is a burgeoning concern, producing over 5 million bottles per year, we still import the vast majority of our wine, and this has led to the price of a bottle of wine rising steeply over the last few weeks. Statistics have shown that the price of an average bottle of wine has increased by 3% over the past 3 months compared to just a 1% increase over the two years previously.
Quality Food & Drink Suppliers
The fact that prices are rising so steeply means that it pays to look around and find a good supplier that can provide both great quality AND value for money. Luckily for you Global Foods & Provisions Ltd can do both in spades! We have a very wide network of reputable suppliers so that we can choose great products at very reasonable prices that we can then pass on to our clients.
For more information on the food and drink ingredients we can provide you with, or to get a quote from us, you can either fill in the form on the website or you can just give us a call on 0161 660 3380.