Those times looking at the reduced aisle at Sainsbury’s are not over. If anything, they’ll be even more frequent. So how are students feeling about Brexit’s inflation?
Reporter: Micaela Kolischer|Sub-Editor: Abigail Megan Widya
Leaving the EU has sparked outrage worldwide and obviously, Britain is suffering. From university fees to work permits and housing, students are now feeling the pain as food prices are set to go up due to imports.
UCL student Olivia Jones is one of many concerned: ‘’I have found that I’m spending a little bit more than I was a year ago. It’s not a lot, but it all adds up, and I have noticed a slight increase in ‘total spent’ and a decrease in money in the bank’’, she said.
Christmas might look a bit gloomier this year : ‘’I think I’ll be okay, but we might have to cut back on the odd sprout or two”, Olivia added.
I think I’ll be okay, but we might have to cut back on the odd sprout or two
Another UCL student James Smith said: ‘’I’ve noticed a bit of an increase in prices and the cost of living in London is already higher than the rest of England. It makes it harder to make ends meet and be able to manage my maintenance’’.
Tesco’s John Allan joined the discussion, alerting Britain to prepare for soaring prices of food after the weakening of the pound, The Independent reported.
Others are feeling positive about Britain leaving the EU, believing the future will not be as bad. According to the Office for National Statistics (ONS), there has been a 0.5 per cent growth in the overall economy in the last few months, The Guardian explained.
After the Article 50 High Court ruling on November 3rd, the pound saw a sharp rise of 1.1 per cent. Market Analyst Neil Wilson told BBC News: “Article 50 court ruling made triggering Brexit a lot, trickier and has given sterling a massive shot in the arm”.
Brexit’s consequences are still dubious for everyone. Mark Carney, Bank of England’s governor explained on ITV that the future is uncertain: ‘’Negotiations haven’t even begun’’.
- The student’s names were changed for this article.