New research by the London School of Economics (LSE) has revealed that British households have incurred a £7 billion ($8 billion) cost since Brexit due to trade barriers affecting food imports from the EU.
LSE researchers estimate that extra barriers on EU food imports have pushed up bills by £250 on average.
Two years after Britain’s departure from the European Union, bosses of UK businesses are reeling from the cost of Brexit, including some who voted to cut ties with Brussels.
By the end of 2021, Brexit had already cost UK households a total of £5.8 billion in higher food bills – new LSE research
01/12/2022
Leaving the European Union (EU) added an average of £210 to household food bills over the two years to the end of 2021, costing UK consumers a total of £5.8 billion, new research from the Centre for Economic Performance (CEP) at the London School of Economics finds.
Extra trade barriers created by Britain's exit from the European Union and subsequent trade agreement have added 6% to the cost of food, researchers from the London School of Economics and other universities estimated on Wednesday.
Trade friction has ‘clear and robust’ impact on supermarket prices, say economists.