Price of Marmite soars after Brexit row

Supermarket giant Morrisons has raised the price of a jar of Marmite on its shelves by 12.5 per cent, say analysts.
Morrisons is now charging £2.64 for a 250g jar in the first highlighted example of rising food costs as a result of the Brexit vote.
The price increase follows a row between rival supermarket Tesco and Marmite maker Unilever over the impact of the falling value of the pound.
Unilver was said to be asking for 10 per cent more from Tesco for popular items including Marmite and Pot Noodles in the wake of the Brexit vote which the food manufacturer said was leading to increasing costs.
Since the referendum vote to leave the EU, the pound has fallen in value, making it the world’s worst performing currency in the global money markets.
A spokesperson for Morrisons said the supermarket had no choice but to increase prices to customers because of rising wholesale costs.
The supermarket said it had done its very best to avoid putting up prices, adding: “More often than not, we have been reducing prices and more than 3,000 products are currently cheaper in our supermarkets than they were last year.”
However, according to an investigation from Grocer magazine, Morrisons, Tesco and Asda have all put prices up on a number of Unilever products.
The price rises come in the wake of warnings that food prices will go up in the UK as a result of the fall in value of Sterling.
International trade minister Mark Garnier said that increasing food costs were a “well predicted” effect of the decision to divorce from the EU and there was nothing the government could do to offset rising prices.
Mr Garner said: “We have had Marmageddon. Consumers are going to start to see rising prices and there’s nothing we can do about that. That was a well-predicted effect of Brexit. The point was very clearly made by everybody. Brexit could easily result in a slump in the value of sterling. That has transpired.”
The rise in food prices is set to hit low-income families hardest as, while households are able to cut back on luxury items, it is harder to reduce family food costs. However, the new National Living Wage regulations have had a positive impact on the lowest earning UK workers who have seen their salaries rise by the biggest percentages.