But unlike most price rises, this one doesn’t bring with it all bad news as supermarkets are set to engage in a battle of the bottles.
While the cost is rising, retailers are set to cash in with offering the lowest prices.
Fresh, own label milk at Aldi, Lidl and Iceland was 95p on Tuesday, compared with £1 at Tesco, Sainsbury’s, Morrisons and Waitrose. Asda, meanwhile, was a penny cheaper at 99p for a four pint bottle.
Those price differences follow the release of new figures which reveal the average price had increased by 4.2 per cent from 94p to 99p in a month.
According to data from analysts BrandView, supermarket milk has quietly increased between September and October to the most it has been since January 2015. It found Asda was the last of the big four chains to raise the cost of four pints.
Asda was the first of the major supermarkets to cut the price of four pints of milk to 89p at the start of 2015 with Aldi and Lidl following suit.
The warnings from Mark Carney, the Governor of the Bank of England, come as the pound plunges in the wake of the Brexit vote earlier this year.
Mark Carney said groceries would be one of the first areas to be hit by the slump in the value of sterling.
He also admitted life was «going to get difficult [for low income households] as we move from no inflation to some inflation».
Mr Carney said: «We are entering a period of major adjustment.»
Source: GrimsbyTelegraph
Link: http://www.grimsbytelegraph.co.uk/price-of-milk-on-supermarket-shelves-soars-to-21-month-high/story-29872226-detail/story.html#ieGrWrCE2E8qTam7.99
