Last Week Unilever, the makers of Marmite and other household products, told Tesco that because of the fall in the vlalue of the pound, they will be raising the the prices of their items like Marmite by 10%. Marmite is a spread made of yeast extract containing a high sourcs of vitamin B and children love it. I never liked the taste of Marmite but apparently many people enjoy it.Unilever said that the plummeting value of the pound means it is more expensive to buy the ingredients that go into making their products. Tesco refused to accept the increase and Unilever had to give in.
The proposed price increase was a consequence of the downward slump in the value of the pound following Brexit. Would other manufacturers follow suit and raise the cost of their products? Only time will tell. It would appear that Brexit has started to take its toll as house prices have also seen an upward trend. At the time of writing, we understand that the dispute has been resolved pro tem, but it could raise its ugly head again in some other form. How long will the status quo be maintained? Soon other products will go up in price. In contrast to Newton’s Law of gravity, normally anything that goes up does not come down.
Dinesh Sheth
Newbury Park, Ilford
