The Times: Shops Will Raise Prices As Brexit Hits Profits

Covering our report “Costs Up, Prices Up: Brexit’s Impact on Consumer Businesses and Their Customers,” The Times reported that British shoppers may face steep price rises after Brexit as supermarkets attempt to stop profits from sliding by more than £700 million.

Callum Jones, Trade Correspondent, said that “household budgets will be squeezed after Britain leaves the EU, regardless of whether it strikes trade deals” as higher EU import costs put businesses under pressure.

Our report found that restaurant chains are particularly likely to struggle after Brexit as rising prices will force consumers to cut back on non-essential spending.

Read the full article here and discover more from of our Brexit insights here.