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Brexit, the UKs decision to leave the European Union (EU), has changed many aspects of daily life. One of the biggest impacts has been on the cost of living, as prices of goods and services have risen in the years since the UK officially left the EU in 2020. But why has this happened, and what does it mean for young people who are growing up in post-Brexit Britain?
Understanding how Brexit has affected prices can help you make smarter spending choices, whether it's buying clothes, gaming gear, food, or even saving for the future. In this article, well break down why prices have changed, how it affects people like you, and what you can do to deal with it.
Why Has Brexit Made Things More Expensive?
Before Brexit, the UK was part of the EUs single market and customs union. This made it easy for businesses to buy and sell goods across European borders without extra charges or delays. However, Brexit introduced new trade barriers, causing prices to rise for several reasons:
- Import Costs: Many products in UK shops come from Europe. Since Brexit, businesses importing goods from the EU face extra costs like tariffs (taxes on imports) and paperwork.
- Delays and Supply Chain Issues: New border checks mean products take longer to arrive, which can make fresh food more expensive and cause shortages of some items.
- Fewer EU Workers: Many jobs in farming, transport, and hospitality were done by EU workers before Brexit. With stricter immigration rules, there are fewer workers, leading to higher wages and, in turn, higher prices for goods and services.
- Exchange Rate Changes: The value of the pound has fluctuated since Brexit, making imported goods more expensive when the pound is weak against other currencies.
How Have Prices Changed Since Brexit?
Many everyday items have seen price increases since Brexit. Here are some of the key areas where young people might feel the impact:
Food and Drinks
- Supermarket prices have risen as the cost of importing food from the EU has increased.
- Favourite snacks, like European chocolates, cheese, and soft drinks, may be more expensive or harder to find.
- Takeaways and eating out have also become pricier due to increased ingredient costs and staff shortages in the hospitality industry.
Fashion and Clothing
- Many popular fashion brands import clothing from Europe. Extra costs have made some items more expensive.
- Online orders from EU-based retailers may now include extra delivery charges and customs fees.
- Some brands have stopped shipping to the UK entirely, limiting choices for shoppers.
Technology and Gaming
- Gaming consoles, laptops, and mobile phones have gone up in price due to new import costs and supply chain issues.
- Some games and accessories take longer to arrive or cost more because of Brexit-related shipping delays.
- Streaming services and subscription-based platforms have also seen price increases.
Travel and Transport
- Fuel prices have risen, making bus, train, and car travel more expensive.
- Holidaying in Europe now involves additional costs, such as travel insurance and roaming charges for mobile phones.
Real-Life Impact: How a Young Person Feels the Effects
Lets take an example of how Brexit-related price increases affect a typical teenager in the UK.
Meet Alex: Alex is 15 years old and enjoys shopping for new clothes, gaming with friends, and grabbing a meal from his favourite fast-food place after school. But over the past couple of years, he's noticed some changes:
- The trainers he wanted from a European brand are now more expensive, and delivery takes longer.
- Some of his favourite snacks have disappeared from shop shelves, and takeaway meals cost more.
- His parents have mentioned rising energy and fuel prices, meaning there's less money to spend on treats and entertainment.
- His family's holiday to Spain now involves extra paperwork, passport checks, and higher costs.
These changes mean Alex and his friends have to think more carefully about how they spend their money.
How to Deal with Rising Prices
While price increases can be frustrating, there are ways to manage money better and still enjoy the things you love. Here are some practical tips:
Be a Smart Shopper
- Look out for discounts and student deals in shops and online.
- Buy second-hand clothes or tech from platforms like Depop, Vinted, or CEX to save money.
- Use price comparison websites before making big purchases.
Budget Wisely
- Keep track of spending using budgeting apps like Monzo or Revolut.
- Plan ahead for big purchases by saving a little each week.
- Avoid impulse buying think about whether you really need something before spending.
Find Alternative Entertainment
- Instead of expensive cinema trips, try streaming films at home or using student discount tickets.
- Look for free events in your area, such as community festivals and museum exhibitions.
- Use shared family plans for services like Netflix, Spotify, or gaming subscriptions.
Consider Earning Some Money
- If you're old enough, consider a part-time job to earn extra cash.
- Try side hustles like selling clothes you don't wear, offering tutoring, or doing freelance work online.
- Use cashback apps to get rewards for everyday spending.
What's Next? Will Prices Ever Go Down?
The long-term impact of Brexit on prices is still uncertain. Some experts believe that as businesses adjust to new trade rules, costs may stabilise. However, others think that prices could stay high for years due to ongoing economic and global supply chain issues.
For now, the best thing to do is stay informed, shop smart, and be mindful of how you spend money. While Brexit has made things more expensive, making smart financial decisions can help you manage these challenges and still enjoy life.
How are you feeling?
It is really important that when we need help, we feel able to ask for it. This could be speaking to a parent, a close friend, a teacher or someone else you trust. Sometimes it can be really hard to share our feelings with other people but if we are feeling low or don't know where to turn, sharing with others is really important. Teachers will always take you seriously and listen to your problems in confidence if you approach them for help. Likewise, parents, siblings or friends will help you if you reach out to them.
If you feel like you can't speak to anyone you know, there are people and organisations that can help support you:
- Childline - Call them on 0800 1111 any time of the day or night, every day of the week
- NSPCC - Call them on 0808 800 5000 between 10am and 4pm Monday to Friday or email them on help@NSPCC.org.uk
- The Samaritans – Call them on 116 123 any time of the day or night, every day of the week
- SANE – Call 0300 304 7000 for support (4:30pm - 10:30pm every day)
- Mind – Call 0300 123 3393 (9:00am - 6:00pm Monday to Friday)
*Sometimes we will use real life examples in our articles to aid understanding. When we do, names and ages will be changed.
