Household Bills
Big supermarkets shrink their price tags on milk
The cuts were attributed to a seasonal oversupply alongside changes in consumer buying habits and reductions in dairy farmers’ production costs.
Anyone who buys dairy milk will have noticed the recent surge. The Office for National Statistics said the price of low-fat milk was 42% higher than it was a year ago thanks in large part to increased costs for dairy farmers for fertiliser and feed.
Still, wholesale prices had started to creep lower before the latest retail cuts, the ONS reported.
Aldi and Lidl said today that a pint of their milk would drop from 95p to 90, matching the prices at Tesco and Sainsbury’s. Other grocers, such as M&S, also had pints of milk for 90p on their shelves.
Happier cows
One reason for the price cuts is that wholesalers had also cut their prices because of an oversupply resulting from the “spring flush”, a period when cows produce more milk after being let back out to graze among the grassy fields.
Another reason is the slowing demand for more-expensive dairy products coupled with rising demand for oat- and nut-based alternatives.
A spokesperson for Arla, the UK’s biggest dairy processor, told The Guardian: “The cost-of-living squeeze means consumers are putting less in their baskets so demand is changing. At the same time, milk supply is growing, creating a change in the supply and demand of milk which is having a negative impact on the global value of milk.”
There are 0 Comment(s)
Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?
Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...
Is now the time to fix your energy deal?
Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...
Everything you need to know about the pension triple lock
Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts
A number of banks are luring in new student customers with cold hard cash this year – while others are compe...
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Money Tips of the Week
© AE3 Media Ltd, 21 Great Winchester Street, London EC2N 2JA, Company.