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"So a weaker pound will mean higher imported food value.
"We see consumer demand softening over time as households face a double hit from slowing employment growth and a real income squeeze from higher imported inflation, due to falls in sterling," he said.
The other pattern occurs in countries that export these products by importing raw materials, and so they will have a higher imported content than countries fitting the first pattern.
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Main findings revealed that Singapore, Japan, Germany, Malaysia, and the U.S. have the highest importing advantage.
"The higher imports could mean that domestic consumption is improving.
The dollar may weaken, leading to higher import costs.
Higher imports and lower exports will make it worse.
While rising exports will create jobs, higher imports would cut into employment.
And this, according to official statisticians, is before higher import costs have fed through to the high street.
QE in the eurozone will thus bring about the inflation that Draghi wants via higher import and export prices.
In theory a falling currency implies higher import prices as foreign producers pass its effects on to their customers.
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