The impact of a no-deal Brexit on retailers would be exacerbated by the October deadline for the negotiations, the British Retail Consortium (BRC) has warned.
It comes after a report by trade union GMB, released on Friday, found shopping bills could increase by £800 per year if the UK leaves the European Union without a deal.
In response to the GMB report, the BRC pointed out that a no-deal outcome in October – when Brexit is now due to take place – would disrupt retailers at one of the busiest times of the year, as they stock up for Black Friday and Christmas.
BRC chief executive Helen Dickinson said: “Our own research suggests that currency depreciation, additional documentation checks and requirements, tariffs on some goods, as well as delays at the border, would all contribute to higher prices and a reduced selection.”
“Businesses are spending hundreds of millions of pounds putting in place mitigations against a no-deal Brexit – this represents time and resources that would be better spent improving customer experience and prices,” she added.
“Retailers cannot continue to spend this money indefinitely. MPs must find a compromise which can avoid a disastrous no-deal scenario.”
Dominic Raab and Boris Johnson are among the Conservative leadership candidates who have said they will consider leaving the EU without a deal.