SURVEY findings have indicated rising consumer concern about price increases post-Brexit and how their spending habits are already changing.

Results suggest that 68% of consumers are now concerned about increases in their supermarket bills, petrol, package holidays and flights as a result of Brexit.

However, the research by consultancy firm Simon-Kucher also suggests there could be a boost for the British economy with more consumers saying they are buying British.

The survey found 29% of consumers claiming to have purchased more British goods – versus the 24% seen six months ago. The majority of this increase is coming from 'leave' voters, increasing from 29% to 35%. More surprising though, is that the majority of the 'leave' demographic say that they haven’t increased their spending on British brands.

However, both remain and leave voters expressed growing concern over price increases as a result of Brexit. 68% stated they were either ‘slightly concerned’ or ‘very concerned’ about prices increasing – and the majority of this increase came from 'leave' voters, with 45% now indicating a level of concern.

Half of those surveyed now feel retailers would be justified in increasing prices after the UK’s departure if the reasons of higher costs due to Brexit was given. Remainers generally felt this was more justified with 69% indicating retailers were justified or partly justified. In contrast only 34% of leavers felt the same. This indicates a tough time ahead for retailers trying to pass through increased costs after Brexit.

“We have seen consumer facing companies such as retailers and restaurants struggle to pass through price increases incurred as a result of increased exchange rates following the leave vote and we don’t expect to see this change moving forward,” commented Rosalind Hunter, senior director and Brexit research lead at Simon-Kucher.

Many of Britain’s holiday-makers will alter their plans as a result of Brexit. While three in five stated that Brexit will not change their holiday plans at all and only a small fraction (7%) indicating they will take fewer holidays, 28% expect to change their plans with 14% expecting to spend more time in the UK

“Staycations and local British holidays are slowly increasing in appeal, with 14% of respondents saying they plan on taking fewer holidays abroad and more in the UK, this is compared to 11% stating the same six months ago. This will be welcome news for the UK domestic travel industry," added Ms Hunter.