Saturday, January 28, 2023

AGAIN: Brexit brought an additional food cost of 4,750 TL per household

According to the latest report of British economists and academics, Brexit brought an additional food cost of 210 pounds (4,750 TL) per household in the country. The cost of leaving the European Union was reflected in the bills as a total of 5.84 billion pounds between 2020-21.

London Economy According to the report ‘Non-tariff barriers and consumer prices: Evidence from Brexit’, prepared by researchers from the University of England and published today, leaving the EU brought an additional food cost of 210 pounds (4,750 TL) per household in the UK. While a total of 5.84 billion pounds was reflected on the bills between 2020-21, it was emphasized that this situation affected poor families who spend most of their income on food. In the two years leading up to the end of 2021, Brexit alone has increased food prices by nearly 6 percent overall.

BREXIT HAS BENEFITED TO LOCAL FOOD PRODUCERSResearchers stated that Brexit has benefited local food producers, who are less affected by European imports, and revealed that domestic companies have earned 4.78 billion pounds. The British Retailers Association made a statement regarding food inflation: “Food inflation rose from 11.6 percent in October to 12.4 percent in November. This is the highest inflation rate recorded in the food category.” Helen Dickinson, Chief Executive Officer of the British Retail Consortium, stated that rising global energy costs have caused this to rise, especially reflected in the prices of meat, eggs, dairy products and coffee.

ATTENTION TO DEAR EDITORS: The word pound has been removed from the title.

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