2016-12 Back from the UK

Over the break I was in London. UK was consumed by a dispute between Unilever and Tesco. Because of depreciating pound, Unilever, a big producer of foodstuffs wanted to raise wholesale prices. Tesco, the biggest supermarket chain, rejected the increase and stopped ordering from Unilever.
The result: a tragedy. Just look at this picture:

Only one jar of Marmite!!!!!!

Now here is the exchange rate since the brexit vote

Here is a story of an Englishman. What is wrong with his economic reasoning?

Philip Walker spreads Marmite on his daily crumpet and stockpiles jars of the yeast spread. He’s a fan, and he’s upset at plans to raise the price of this icon of the British breakfast table.

Love it or hate it, Marmite has become the most visible sign yet of Britain’s decision to leave the European Union after consumer giant Unilever sought to raise wholesale prices for its products by a reported 10% following a sharp drop in the pound.

Tesco, the U.K.’s biggest supermarket chain, has rejected the increase and removed many Unilever products from its website. #Marmitegate was not far behind.

“I am more angry at Unilever than I am at Tesco,” said Walker, a 43-year-old regional manager for St. John Ambulance. “It seems Unilever is using Brexit as an excuse to hold Tesco customers to ransom.”