45% increase in prices of basic foods on WTO terms. I cannot afford this. Source: The Independent Newspaper.

Retailers have warned that a no-deal Brexit will lead to “unaffordable” price hikes on food and drink for customers in both the UK and Ireland as well as causing shortages of some everyday items.

Leaders of retail bodies said reverting to World Trade Organisation tariffs could make the cost of making fresh food and drink available to consumers increase by as much as 45 per cent- which is likely to be passed on to customers.

Food and drink production will be made more expensive due to a combination of higher tariffs and new regulatory checks, according to Aodhan Connolly, director of the Northern Ireland Retail Consortium, Thomas Burke, director of Retail Ireland and William Bain, the British Retail Consortium Europe and international policy adviser.