One of Britain’s biggest supermarkets is running low on everyday household items after Tesco refused to bow to demands from a major conglomerate to raise prices in the wake of the Brexit vote.

Tesco is locked in a standoff with Unilever, which owns brands including PG Tips, Ben & Jerry’s ice cream and Persil, after the company demanded price rises of 10 per cent, blaming the falling value of the pound.

Unilever, which earlier this year posted profits of more than £2billion, is understood to have stopped deliveries to Tesco branches, leading to shortages of products including mayonnaise, Marmite, toothpaste and soap.

Many of the items have been removed from Tesco’s online store, with reports that stocks could start running out in shops across the country.