New UK border controls post-Brexit to cost businesses 2bn, fuel higher inflation. 10% increase in import costs expected due to new checks under Brexit deal.
Checks on animal and plant products could add 10% to import costs, negatively impacting UK-EU trade. Businesses may face charges up to 145 per consignment, potentially raising food prices.
Inflation could rise by 0.2 percentage points due to additional costs, with dairy, meat, and fish sectors most affected. Tariffs suspension on some goods could mitigate inflationary pressures.
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