UK consumers face 15% tea price hike
The price of tea is expected to rise by up to 15 percent in the UK, as the impact of rising demand, crop failures and a weak pound takes its toll. Businesses blame severe droughts in Kenya and Sri Lanka, as well as a hefty 5% increase in international demand for tea. A weak pound also affects prices, as purchasing the produce becomes more expensive. PG Tips, a leading brand in the UK, says it can no longer absorb the extra costs and will shortly raise prices by up to 50p ($0.80) for a box of 160 tea bags.