Walkers products set to rise by 5p following weakening of the pound
Britain's biggest crisp brand Walkers is set to increase prices of its products by 5p as a result of the pound weakening.
Walkers, which is owned by PepsiCo, has revealed that due to the impact of the UK’s decision to the leave the European Union, import costs are affecting some of its items.
The crisp company said it was making “selective cost price changes across our portfolio”, including raising the price of standard and grab bag products.
A Walkers spokesman said its 32g standard bag was set to increase from 50p to 55p, and the larger grab bag from 75p to 80p.
“Since we do not set the retail price of our products, it will be for individual retailers to determine the impact on the price at which they sell our products,” the company said.
“We continually review our price and promotion initiatives to ensure we offer great value and affordability to our customers. Like most businesses, we are facing factors which impact the cost of some of our ingredients and materials including fluctuating foreign exchange rates. In light of this we are taking steps to cover some of these additional costs through selective cost price changes across our portfolio.”
The firm added that while its potatoes were British, it imported a number of different ingredients and materials to produce a packet of Walkers crisps.
These include seasonings, oil for frying and raw materials used in its packaging film. The move is part of its ongoing reviews of pricing and promotion schemes.
The news follows Mintec’s research that key bakery ingredients have soared in price as weak sterling hits the cost of imports.
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- bakery news
- european union
- standard bag
- grab brag
- pound weakening
- key bakery ingredients
- key raw materials