Home Business NewsBusiness Lego prices on the rise due to weak sterling

Lego prices on the rise due to weak sterling

15th Dec 16 10:32 am

More Brexit trouble?

Lego prices in the UK are set to go up by five per cent.

The toy giant confirmed the changes in price will come into effect on New Year’s Day and is a reaction to the collapse in the pound since the UK voted to leave the European Union.

Lego said although its raising the prices to its retailers it is up to stores to decide if they pass the increase onto customers.

The weaker sterling makes important products more expensive, it’s one of the reasons why fuel prices have seen a rise as oil is priced in dollars.

Many retailers have seen the effects of the fall in the pound, including Apple, the company raised its prices on computers in the UK by 20 per cent.

Luxury firm Fortnum & Mason has also warned of price rises being inevitable.

Since the Brexit vote the pound has fallen by up to 20 per cent against the dollar but is currently trading at $1.27. This is 14 per cent down on its pre-referendum level.

Against the Euro, sterling remains 8.8 per cent weaker.

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