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Wednesday, January 11, 2017

Brexiteers and the price of cake

Those Leave campaigners who argue that we have got off scot-free from the referendum result need to go shopping a bit more often.

The impact of that vote on the pound has already led to an increase in imported goods and this is starting to filter through to supermarket shelves. And that is before we have even left, if indeed we do.

The Independent reports that the maker of Mr Kipling cakes and Bisto gravy is in talks with some of its biggest retail customers about cranking up prices as a result of the twin pressures of the tumbling pound and rising commodity prices:

Premier Foods, which has in the past already said that it would take action to limit the impact of the Brexit-hit pound on shop prices, said that it was considering rises on a case-by-case basis as a last resort.

“On average we are considering rises around the mid-single digit mark,” a spokesperson said, adding that the company was talking to individual retail customers about particular categories and brands of products.

It seems that Brexit is going to hit us in the pocket earlier than the Brexiteers told us. Quel surprise!
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