Price of pint of milk goes past £1 threshold for first time ever
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As the cost of living crisis continues to take its effect in the UK, many families will worry about the cost of petrol, energy, and even just the basic necessities going into the winter.
Unfortunately, the price hikes are not stopping, and for the first time ever the price of a pint of milk has passed the £1 ($1.18) threshold.
Shoppers in Sainsbury's will now have to pay a record £1.05 for a pint of milk in its smaller stores. Two pints, more likely needed for a family, will cost £1.35 in another financial blow to Brits.
This latest price hike means Brits are now paying two-and-a-half times more for milk than this time last year.
The cost of a pint of milk at Sainsbury's bigger stores will remain at 85p ($1), roughly a fifth less than at the smaller stores.
In a statement regarding the price hike, a Sainsbury's spokesperson said: "We're committed to offering competitive prices for our customers.
"Whether in our supermarkets, online or in a local store, we aim to make our prices clear, fair and appealing to our customers."
Many customers will question the decision as to why the supermarket giant has upped its prices in the smaller shops with the larger stores offering competitive rates.
The supermarket said: "Different sizes of stores have very different operational requirements and running costs. 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."
How does Sainsbury's stack up to the rest of the supermarkets in the UK?
Well, the price for one pint of milk in Tesco is currently 85p, which is the same as budget supermarket Aldi as Tesco price match them, The Sun reports.
All supermarkets had to bump up the prices of milk last month due to farmer's soaring prices of feed, fertiliser and fuel meant they were struggling to make ends meet.
Farmers now say the cost of producing milk is 44p per litre, compared to 23p a year ago.
According to official figures, the price of milk was 43p this tine last year.
Featured Image Credit: Jim Holden / Martin Berry / Alamy Stock Photo
Topics: UK News, Food And Drink