Brexit Price Rises Now Hit Bananas As Fruit Goes Up For First Time In 5 Years

Brexit's gone bananas.

Supermarkets have issued the first price rise to bananas in five years as post-Brexit vote currency fluctuations reek havoc with the cost of fresh produce.

German discounters Lidl and Aldi have all reportedly increased the cost of a pack of bananas from 68p to 72p - a six percent rise.

While Asda has raised the price of loose bananas to 72 pence per kilo - up from the standard 68p seen at its rivals, according to The Grocer.

<strong>The price of loose bananas has risen for the first time in five years at Asda</strong>
The price of loose bananas has risen for the first time in five years at Asda
Bloomberg via Getty Images

Bananas are traded in dollars, Mail Online reported, meaning the 17 percent fall in the value of the pound against the US currency has made the fibre-rich treat more expensive to source.

Aldi said it had increased the cost of a pack of the fruit to 72p but hadn’t increased the cost of its loose varieties.

However industry insiders told the Guardian that the budget supermarket could be hiding a much a bigger price increase as the pack was likely to weigh in at around 700g.

<strong>Aldi and Lidl have reported increased the cost of a five-pack of bananas </strong>
Aldi and Lidl have reported increased the cost of a five-pack of bananas
PA/PA Wire

Supermarkets carefully protect everyday purchases like bananas from price rises as these are more keenly noticed by shoppers - and by industry price monitors.

Yet The Grocer found the three stores had tinkered with pricing in some way.

The trade magazine found the increase “reflects growing inflationary pressures on the multiples due to the weak pound, with bananas generally bought in dollars.”

<strong>Asda has reportedly increased the cost of loose bananas - the first such rise in five years</strong>
Asda has reportedly increased the cost of loose bananas - the first such rise in five years
Chris Radburn/PA Wire

Industry body Banana Link welcomed the higher prices, the group’s Alistair Smith told The Sun: “It’s a step in the right direction but this is far from the sustainable pricing we have called for.”

5 Things You Buy That Will Be Affected By Price Rises

Fresh produce
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Fresh produce like British apples are more at risk of inflation than other goods thanks to their shorter route to market - for example, the fuel used to transport them is becoming more expensive, according to the IFS.
Marmite, and the rest
Chris Radburn/PA Wire
The high-profile row between Unilever and Tesco highlights the current pressure on prices. It's not clear what deal was struck, but it's likely to be a compromise on the original demand of a 10% increase on Marmite, Pot Noodle and PG Tips, according to Mintel Retail.
Imported foods
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Imported goods like coffee have risen in price by 12% in recent months, Sarah Hewin of Standard Chartered said. Increasing costs of raw materials look set to challenge manufacturers.
Clothing
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The cost of clothing is likely to increase over the next year, with Next predicting a rise of around 5% - while retailers have bought next season's clobber, the future is less certain.
Furniture
Laurence Dutton via Getty Images
While furniture has a longer supply chain, firms like Ercol in Buckinghamshire are preparing to tinker with prices as the cost of raw materials like metal and wood increases.

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