The high-profile row between Tesco and Unilever was just a harbinger of what may be a grim 2017 at the checkouts
Flicking through the chunky Argos catalogue gives a snapshot of how much British high street retailers rely on imports – and are vulnerable to the slumping pound. Beats headphones at £89.95 come via California; a slim PlayStation 4 is made in China; while curved Samsung TVs are manufactured in South Korea.
It is these imports – from clothes manufactured in south-east Asia to consumer electronics – that are expected to go up in price in the new year on the back of fluctuations in the post-EU referendum pound. The very public row between Tesco and Unilever last week over the wholesale cost of household staples such as Marmite is the first public illustration of the sensitivity of everyday items to movements in sterling, which closed the week at just under $1.22.