Sunday, 24 March 2019 20:05

Goods costing more since referendum

People are concerned that when we officially leave the European Union, wages are going to slide and the cost of our goods is going to go up. The uncertainty of the whole situation is what is bothering people the most at the moment.

What people are unaware of, however, is that we have already started to see changes with how much things are costing, and we haven't even officially left the EU yet.

According to a recent report looking into the economy currently, people are already paying for the cost of Brexit.

Figures show that in the first year after the Brexit vote, people had to spend £450 more than the year previous to make the same purchases. This was because businesses panicked immediately and raised their prices on specific products and goods because they didn't know what the impact would be on their profits.

 We've all been paying the cost of Brexit on many day to day items since the referendum. And guess what, we're all still alive and kicking, and the country has still managed to function. That should give us all something to think about.

The idea that Brexit has cost families more money already, we believe, is a bit misleading anyway.  Yes, prices on certain items have gone up ever so slightly, (it is thought that the average family has to cough up around £8 more per week in a bid to buy the same goods), but this isn't because this is what is to be expected now that we are leaving the union, it is purely because businesses in the UK heard the news that we had voted to leave and they panicked. The knee-jerk reaction was to immediately put prices up on all their goods to offset the threat of what was coming. Panic brought about price rises, not necessarily the bigger Brexit picture.