Cash-strapped shoppers may find themselves paying more for a pint of milk at the supermarket than they do when filling up their car with petrol.
The latest figures have found that the cost of milk has become the latest item to soar in price amidst the current cost of living crisis and comes as petrol prices have begun to fall in recent months. Prices of milk have said to have soared by two-thirds in the past year, pushing up the average price per pint to 86p - the equivalent of £1.50 a litre, reports WalesOnline.
Some of the smaller branches of of the bigger retailers are selling single pints for as much as £1.05, a fraction under £1.85 a litre. It comes after the cost of petrol soared to record-highs of around 191p a litre earlier this year, but have recently fell to as little as just 140p per litre in recent months.
Dairy farmers have said the recent price hikes are due to the rising costs of farming, with increased costs on fertilizer, feed and fuel. The Daily Record previously reported back in April that experts had warned that milk prices could soar by 50%.
National Farming Union President Minette Batters said: "Costs are rising rapidly on farms across the country."
British magazine The Grocer said: "Dairy is at the sharp end of food and drink price increases, with milk leading the charge. The average price of semi-skimmed milk has seen a market change since July and at an average 86p has increased 65% year on year."
It is cheaper to buy milk in bigger quantities, but it may not be practical for those living alone, the elderly and those who do not use a lot of milk as the product can go off if bought in bulk.
Meanwhile, fuel prices will remain higher than normal for as long as the war in Ukraine hits supplies. The AA said: "There is hope that prices will continue to fall by as much as 15p per litre as rising interest rates and the threat of global recession creates a decline in demand which should, in turn, enable the oil supply to stabilise."
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