Press "Enter" to skip to content

Consumers paying price for Brexit

Consumers are paying the price for Brexit uncertainty as businesses pass on increased costs in the supply chain to consumers.

In a survey by The Chartered Institute of Procurement & Supply (CIPS), 60% of UK businesses with EU suppliers say that currency fluctuations since the vote to leave the EU have made their supply chains more expensive to manage.

Nearly one third (32%) of UK businesses with EU suppliers have already increased their prices following the Brexit vote, with a further 41% planning to do so.

In addition, 23% of UK businesses plan to reduce the size of their workforce to offset Brexit-related costs, while 11% of EU companies have moved some of their workforce out of the UK since the Brexit vote.

www.cips.org

Please follow and like us:

Be First to Comment

Leave a Reply

2018