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Weetabix could see prices rise this year

30th Jan 17 10:49 am

Why are prices increasing?

The cereal company Weetabix has announced its prices could rise this year due to the weak pound.

Weetabix sources its wheat from within 50 miles of its processing plants in Northampton, however wheat is priced in dollars and the weaker pound means its takes more pounds to buy dollar listed items.

The news comes just after the company announced its investing £30m into its UK manufacturing sites.

Since the vote to leave in the EU Referendum, many companies have warned of higher prices including Easyjet and Next.

Giles Turrell, the chief executive of Weetabix, told the BBC that price rises would be a last resort and if they were to occur would be in the low single digits.

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