One year on, and the impact of Brexit is making itself clear across the food sector, with the wholesale market recording a year-on-year rise of 8.8% in June 2017, according to the CGA Prestige Foodservice Price Index (FPI)
The FPI tracks the monthly price of food items sold to UK restaurants and caterers – which are exposed to more inflationary pressures than some consumer-side sectors, says the report.
The first 12 months of the graph below from June 2015-16, depict the ebb and flow of prices including seasonal changes, benchmarked against the average price in 2015 for each category. (Click image to expand.)
The effect of Brexit in June 2016 is clear, pushing prices upwards. Given that 27% of UK food is imported from the EU, and only 54% is homegrown, according to Department for Environment, Food and Rural Affairs figures.