The Prime Minister said:

“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.”

The
warning comes from a government analysis of the short-term impact that a
British exit would have on voters. It modelled a 12 percent fall in the
value of sterling, a figure it said was based on external impact
assessments, and predicted the effect on prices after two years.

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

Andy Clarke, chief executive of supermarket chain Asda, said
Brexit would cause uncertainty on prices, and restated that the firm
wanted Britain to stay in the EU.

However, the rival ‘Out’ campaign disputed the government analysis, saying that “protectionist” EU policies pushed up prices.

“That’s okay for big business fat cats but it’s not good for British families,” said Vote Leave Chief Executive Matthew Elliott.

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.

Seeking to
regain momentum on Sunday, Vote Leave focused their campaigning on
immigration, one of the most emotive issues in the Brexit debate,
warning that Britain would be exposed to security threats from Turkey if
it ever joined the EU.

“If you’re going to ever expand the EU,
you have to allow us to mitigate the security risk that comes with
that,” defence minister Penny Mordaunt, a supporter of leaving the EU,
told the BBC. “The referendum is our only chance to say ‘no, we disagree
with that.”

Cameron dismissed the idea that Turkey would join the
bloc any time soon, joking that its current progress towards accession
meant it wouldn’t become a member until the year 3000.