Brexit has added almost £6 billion to UK food bills over the past two years, new research has found.
Household food bills are up six per cent since the UK’s formal departure from the European Union, a study from the London School of Economics’ Centre for Economic Performance (CEP) revealed.
Low-income households have been hardest hit by the uptick in costs, with Brexit–induced price rises adding 1.1 per cent to their total cost of living — more than the 0.7 per cent increase felt by the wealthiest decile of households.
In all, UK consumers paid £5.8 billion in additional food costs over the two years.
Commenting on the findings, Jacob Rees-Mogg – who previously said we will get cheaper food and clothing outside of the EU – argued that Brits will avoid a 2 per cent extra cost to fish fingers thanks to Brexit, as well as bagging savings on some cheeses.
Needless to say, not everyone was excited about it as he is!