Pints of milk are being sold at a higher price per litre than petrol after inflation sent grocery prices soaring, stated a report on Sunday (18).
According to Trolley.co.uk’s grocery price index, a one-pint-bottle of semi-skimmed milk today costs 95p at branches of the Co-op, up by 40p compared to a year ago. That is equivalent to £1.67 per litre, more than the £1.66 charged on average at forecourts for a litre of unleaded petrol.
Sainsbury’s is also reportedly charging £1.05 for a pint of milk – or £1.85 per litre – at its Sainsbury’s Local convenience stores. A pint cost 55p a year ago.
Meanwhile, Morrisons too is reportedly charging more for milk than petrol as well at its chain of convenience stores, Morrisons Daily, stated the report by The Telegraph.
A pint of milk costs 99p (£1.74 per litre), compared to 89p (£1.57 per litre) at the grocer’s larger shops.
The price rises come after inflation slipped marginally to 9.9 per cent in August, with economists warning it will peak at 11 per cent in October when household energy bills rise. As per ONS, food prices, especially soaring prices milk and bread, were one of the reasons for keeping inflation at high levels.
Petrol has jumped significantly as well, with the latest price for unleaded up by 30p compared to a year ago, according to the RAC. However, while the price of petrol has increased by 23 per cent in the past year, the price of milk in supermarkets has on average jumped 27 per cent higher.
“Our price is lower than other convenience stores and accounts for increased costs, such as more frequent deliveries and higher rents from running smaller shops in city centres,” The Telegraph report quoted a Co-op spokesman as saying.
“In addition, and unlike some retailers, our dairy farmers benefit from being paid a fair price premium for what they produce to take into account the cost of production.”
Sainsbury’s has also previously blamed the discrepancy on the higher costs of running smaller shops.
“Different sizes of stores have very different operational requirements and running costs,” the company said.
“Rents, for example, are often more expensive in our smaller stores due to their locations. It can also be more of a challenge to deliver products to our local stores. These, and other factors such as staffing, local rates and a focus on convenience products mean there are differences in price between our supermarkets and local stores.”
