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  • Six of the last seven polls show that voters in the U.K. favor remaining in the EU.

    Six of the last seven polls show that voters in the U.K. favor remaining in the EU. | Photo: Reuters

Published 22 May 2016

The British prime minister also warned that the pound would lose up to 12 percent in value causing inflation to rise by an average of at least 4 percent.

British Prime Minister David Cameron warned voters on Sunday that they would face higher grocery bills if the country decides to leave the European Union at a June 23 referendum, citing a potential drop in the value of sterling.

Cameron is leading the campaign to keep Britain inside the European Union ahead of the referendum, the outcome of which will have far-reaching consequences for the country's economy, its role in world trade and its global diplomatic status.

"Independent studies show that a vote to leave would hit the value of the pound, making imports more expensive and raising prices in the shops," Cameron said in a statement. The study predicts the value of the pound could drop by about 12 percent.

His comments mark a shift in campaign tactics by the 'In' side: a push to make explicit the link between the macroeconomic risks that have dominated the Brexit debate so far, and their potential impact on Britons' daily lives.

The analysis said the average family's weekly food and drink bill would rise by almost 3 percent, or 120 pounds ($174.06) per year, and that clothing and footwear costs would rise by 5 percent, or 100 pounds per year.

However, the rival 'Out' campaign disputed the government analysis, saying that "protectionist" EU policies pushed up prices.

Six out of the last seven polls published in the last week have shown the Remain campaign in the lead, and on Saturday two major bookmakers offered the shortest odds to date on a vote to remain.

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