Everyone knows that UK is a nation of shopkeepers, but what they love more than running a shop is shopping; and when it comes to shopping foreign is the option. From the nationally loved Primark and DIY Ikea furniture, to super expensive Apples and Samsungs and the American Ford Focus, the nation just loves things made abroad.
Until recent events, the prices for these items were widely known and people were, more or less, accepting them. However, imported goods are predicted to get pricier in the long term.
So in which areas are prices likely to rise?
Food in the UK is 40% imported. Even apples come from countries like Holland, Argentina, and Chile. Unless British farmers will start producing more crops, and the government will stop importing foods that can be locally produced, the prices will rise. And there is also the matter of production. EU immigrants usually pick the fruits and vegetables on low wages, but would British people do the same?
The food industry relies on imports even more than the food one. Retailers like Primark, New Look, Marks and Spencer, sell clothes, shoes, and accessories that are most likely to come from Bangladesh, South East Asia, or Eastern European Countries. The prices are thought to increase as soon as the next summer.
Not even your house will be safe anymore as some companies have already started to raise their prices for electricals. Dell, a computer maker company from the U.S. has raised it by 10% this month. Meanwhile 70% of the cars bought in the UK are imported, and so are the 60% of the components used to make cars in the country.
We are talking about big companies here, so they will have a bigger flexibility over their products and prices. There is still time, and the price might not fall, but maybe they will find a way to leave it as it is.