Brexit checks are expected to lead to higher food prices for UK businesses, particularly small restaurants, cafes, and delis. Importers of animal products from the EU will face steep fees, including £29 per type of item and a capped charge of £145 per shipment, starting on 30 April with additional checks in October. Business groups have criticized the fees as a “hammer blow” that could risk increasing food prices for consumers.
Oil prices have also risen, with Brent crude oil nearing $90 a barrel, driven by concerns about global supply disruptions due to geopolitical tensions.
In economic news, the eurozone economy has returned to growth, supported by strong services output. The eurozone services PMI rose to 51.5 in March, the highest in nine months. However, Germany and France are still experiencing contractions in their economies.
Finally, Vodafone and Three UK are facing a potential in-depth investigation by the UK’s Competition and Markets Authority over their proposed merger of UK operations, as they have not offered satisfactory undertakings to address competition concerns.
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