Less niche is the alarming 17% rise in food prices: Ian Wright, of the Food and Drink Federation, tells me Brexit costs and obstructions have sent commodity prices soaring, and those are now working their way on to the shelves. The unexpected £2bn fall in UK food and drink exports to the EU in just the first quarter of this year is, Wright tells me, “no teething problem, but very real and sustained. Smaller firms have stopped exporting”, overwhelmed by the new obstacles.
Imported food rises in price. Exports of food fall. Seems to work, doesn’t it?