Brexit just got serious. Yesterday Tesco’s removed popular products from its shelves such as Marmite, Ben and Jerry’s and even student staple Pot Noodle!!
A price war with corporation giant Unilever, who makes many of our household favourites, demanded a 10% increase from retailers for the goods to compensate for the falling value of the British pound. Other brands also include Comfort, Dove, Lynx, Magnum, Persil, Vaseline and PG Tips.
The episode dubbed #marmitegate which rocked twitter yesterday with typical Brits buying their favourite items. Users were even comparing the situation to Armageddon and it provided at least some light entertainment.
Today I was MOCKED for keeping an emergency Marmite supply in my handbag. Two words. APOCALYPSE. READY.
— Sybil Disobedience (@PaolaOeste) October 12, 2016
But fear not! The dispute has since been resolved with both Asda and Tesco agreeing a truce with Unilever. Phew! Although it is the first direct impact of Brexit on consumers since the vote.
Experts predict a rise in inflation of up to 3% as a result of the Brexit vote. Imported goods and products made in the UK using will be affected and it’s the consumers who are likely to feel the pinch.
Liberal Democrat leader, Tim Farron, said that the Unilever vs Tesco saga is just the tip of the iceberg: “From the food on our supermarket shelves to the price we pay at the petrol station everything is going up.”
In the same week Nicola Sturgeon has announced plans for a second Scottish referendum on independence. Should we all be getting a little bit worried?
Lord Wolfson the CEO of clothes retailer Next agrees that inflation will, “present a challenge next year” suggesting that price increases may not be limited to food.
For now, we shall hold onto our Pot Noodles and Marmite closely.