More bad news for Marmite lovers as Morrisons hikes up prices by 12.5%

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Who knew that Marmite would dominate the headlines so much? Safe to say that wasn't something we predicted for 2016, yet here we are. The latest development in Marmite-gate is the fact that Morrisons has jacked up the price of the spread by 12.5%.

This comes weeks after a public spat between Tesco and Unilever erupted over the love-it-or-hate-it spread.

It's bad news for those who come out on the love side of things - a 250g jar of Marmite will now set a Morrisons shopper back £2.64, according to industry magazine The Grocer.

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The move makes Morrisons the first supermarket to raise prices of Marmite.

Earlier this month, Tesco halted deliveries of Marmite to stores after Unilever hiked up the price 10%. This led to a shortage in some stores, and widespread public outcry.

Unilever, which is behind a host of household brands, has since warned that the prices of products will rise as a result of the collapse in sterling.

Marmite
(Yui Mok/PA)

Since the EU referendum on June 23, the pound has lost nearly 20% of its value against the dollar.

Morrisons said in a statement: "Sometimes we have to increase prices as a result of costs rising although we do our best to avoid this.

"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."

Morrisons
(Chris Radburn/PA)

Even though the spat between Tesco and Unilever has been resolved, British shoppers are bracing themselves for price hikes across the board as import costs soar.