Supermarket moves to ditch promotions coupled with weakened pound following Brexit vote add average £21.31 to quarterly food bills.
The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote. S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector".
Premier Foods joins companies seeking to offset weakness of sterling, after Unilever’s row with Tesco over Marmite prices.
THE pound has fallen to its weakest level against the US dollar since 1985 amid fears the UK is heading for a lengthy recession.
Sterling rallies as PM’s grip on power slips.
The currency plunged to 93.26 pence against the euro in the late hours of Sunday, the lowest it has been since October 2009, when the financial crisis gripped Britain.
Pound To Dollar Exchange Falls To Lowest Rate In Almost Three Years As Uncertainty Over Brexit Intensifies
03/09/2019
The pound fell to its lowest level since October 2016.
The FTSE 100 fell by 1% to 6,526 after Boris Johnson said a no deal scenario was ‘very, very likely’
‘We believe sterling is in the process of evolving into a currency that resembles the underlying reality of the British economy: small and shrinking,’ say Bank of America currency analysts
Sterling has lost two cents against both the euro and dollar amid City fears of no deal.
The pound rebounded from a one-week low after the U.K. signaled it will continue Brexit trade talks beyond Prime Minister Boris Johnson’s Oct. 15 deadline.
It came after the pound slid to a three-year low on Tuesday as investors braced themselves for a turbulent day in Westminster.
The pound dived to a near six-month low against the dollar on Monday as concerns grew that arch-Brexiteer Boris Johnson will replace Theresa May as prime minister as he remains far ahead of his rivals in the race to lead their ruling Conservative Party.
The pound is already under pressure from fears that Britain will fail to clinch a trade deal with the European Union by the end-2020 deadline.
Pound drops as UK-EU trade deal slips away
22/08/2020
The pound slid today after EU’s chief negotiator, Michel Barnier, warned that a trade deal between the EU and UK was slipping away.
If no-deal Brexit goes ahead, the pound could be worse than a US dollar, exceeding the current record lows.
The increases would come from hefty tariffs on imports and the cost of increased border checks on food coming into the country.
Britain's Prime Minister Boris Johnson will suspend Parliament for more than a month before Brexit, enraging opponents and raising the stakes in the country's most serious political crisis in decades.
Boris Johnson downplaying economic risks for political gain, say bank’s economists in scathing assessment of government’s strategy and its impact
First Minister announces 'biggest campaign on the economics of independence' in party's history.
Pharmaceutical industry leaders want a temporary ban on drugs exports to prevent the NHS being hit by shortages in the event of a no-deal Brexit.
Childrenswear and maternity retailer says it plans to increase price of clothing and toys by up to 5% this summer.