Warning of possible 'considerable and unpredictable' fluctuations in food prices

Households could face "considerable and unpredictable" fluctuations in food prices as a result of tariff changes and shifts in the sterling exchange rate following Brexit, according to analysis by an economic think tank.

Poorer families will be more exposed to any price increases because they spend a greater proportion of their income on food than wealthier households, the Institute for Fiscal Studies (IFS) said.