Brexit is blamed for bread price rise
Supermarkets have pushed up bread prices by as much as 20p a loaf.
The increase came after bakery giants warned they could no longer absorb the rising cost of wheat, which has surged since 2016’s Brexit vote.
Tesco have hiked prices across their Kingsmill bread range. An 800g wholemeal and soft white are now £1, up from 80p at the start of last year, whi le 400g loaves are 15p more expensive at 75p.
R iva l s Sa insbur y ’ s increased the price of 400g Kingsmi ll Crusts Away loaves by 5p to £1.30.
Own label supermarket bread is also getting more expensive, with an 800g medium sliced white loaf 55p on average, up 12 per cent on a year ago.
The UK’s biggest bakers say wheat prices are up 20 per cent – mainly as a result of the declining value of the pound – since the 2016 EU referendum.
The Association of British and Irish Flour Millers said: “Wheat is priced globally so the exchange rate really makes a difference.”
Allied Bakeries, who own the Kingsmill and Allinson’s brands, have warned the situation is “unsustainable”.
La s t November, the f irm warned commodity inf lation – especially for wheat – and lower retail pr ices had caused a “significant margin decline” in their earnings.
The hikes come amid wider increases on supermarket bread over the past year, said trade magazine The Grocer.