Rising interest rates affecting Guernsey Seaweed

Guernsey Seaweed said price increases had caused it "quite a lot of headaches"

Rising interest rates have had a "large impact" on a company's rising costs.

Ben Tustin, the owner of Guernsey Seaweed, said price increases across the board had made things difficult.

He said higher rates had been affected by price increases from the UK and had been causing the team "quite a lot of headaches".

He said: "Our ingredients that we use, whether it's for seaweed food or seaweed cosmetics, we're having to ship them from the UK predominantly."

Mr Tustin added: "We don't know - they could increase their prices tomorrow, they can increase in two months, but we can really [only] increase our prices about once a year and that's about it, so the uncertainty causes us quite a lot of headaches."

Businesses across the Channel Islands have been affected by freight charges rising above inflation.

Mr Tustin said freight charges and rent increases had also affected the company's work.

He said: "It would be nice if landlords and agents were a little bit more reasonable because most agents just take the view of - it's going to go up in line with inflation, so I had an 8.5% rise last year in rent.

"I'm probably looking at another 10% rise."

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