Unfortunately we don't often in the UK,go back to the raw material,it is China who mostly goes further down the food chain,our input costs are usually above 50% of rrp and the Chinese are increasing prices above 10%.Yes, imported raw materials will be more expensive, but as I am sure you know, the manufacturing process is all about taking relatively low value "raw material" and adding value to it by turning it into a product. Therefore, say a 10% increase in raw material cost will not translate into a 10% more expensive product, it will be a fraction of a percentage point.
The benefits of a weak pound will counter the rise raw material cost.
I think the pound was too high in value anyway and it's where it should be now. The Euro bubble will pop pretty soon and that's one explosion we don't want to be anywhere near. Thank goodness we didn't get wrapped up in that counterfeit currency.
Our price rises do need to be more than a small percentage to maintain the margin.
But I do agree that I have always been pleased that we never got involved in the euro.
Theresa Mays Great repeal act which will ultimately allow us to pick which bits of EU laws we want to keep and delete those we don't want and future sovereignty over our laws....I don't think many of us would vote against that but it's the rest of the Brexit package,especially loss of the single market,that Remainers are so concerned about.
Time will tell whether what we lose is compensated for what we gain.
Theresa May's speech was ,in my opinion,trying to appeal to everyone,but is she sincere?
KudosDave