No-deal Brexit will hike up prices for essential items, BRC warns
The British Retail Consortium (BRC) has warned that prices on food and clothing will inevitably rise if the government and the EU cannot agree on a tariff-free Brexit agreement before the end of October.
Stepping up pressure on the government, the BRC today warned that “time was running out” for a zero-tariff trade deal to be agreed. It said that failure to do so would lead to price increases being passed on to UK consumers.
In a new report published today, called Why Tariffs are Bad News for UK Consumers, the BRC said that in a no-deal scenario the average tariff on food imported from the EU would be over 20% and over 12% for clothing.
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