UK consumers will think the heatwave is behind them, but the lasting effects of the summer sun look set to cost shoppers an additional £45 million per week, the equivalent of £7.15 per month per household, according to a recent study.
According to the Centre for Economics and Business Research (Cebr), whole food prices look set to increase by at least 5% as a result of the summer conditions, with many crops increasing in wholesale value and red meat prices expected to follow.
The increases come as 2018’s adverse weather heavily impeded grass growth. Cebr’s research suggests that it will take 18 months for the price spikes to ‘fully feed through into inflation’.
