Brexit has fuelled surge in UK food prices, says Bank of England policymaker

Britons need to be kept aware of the cost of leaving the EU, says Swati Dhingra

The slowdown is here' - read the Observer business profile

Brexit is contributing to a surge in food prices as the country heads into recession, a senior Bank of England policymaker has warned.

Swati Dhingra - the newest member of the Bank's monetary policy committee (MPC), which sets interest rates - also used an interview with the Observer to suggest that the coming run of central bank rate rises should peak below 4.5%, which is the level that some City investors are expecting. The market is probably underestimating what damage that [level of interest rates] might cause to the UK economy," she said.