Last week, supermarket giant Coles discreetly implemented a significant change that might not have made headlines but is certainly affecting the everyday lives of many Australians.
The price of Coles’ own brand milk quietly increased by 10 cents per litre, sending ripples through households already grappling with the escalating costs of living. While the move might seem inconspicuous, its impact on families and individuals cannot be underestimated.
A spokesperson for Coles cited cost increases in the supply chain as the primary reason behind the price hike. According to the company, these cost escalations left them with no choice but to pass on some of the burden to their customers.
This is a common refrain in the retail industry, where fluctuations in supply chain costs can have a cascading effect on prices. Coles, like any business, must navigate these challenges to maintain profitability and continue serving its customers.
Coles spokesperson informed news.com.au that, “Regrettably, we have had to increase the price of Coles Own Brand milk by 10 cents per litre due to persistent cost escalations in the supply chain. We understand the gravity of this decision, especially in light of the heightened cost-of-living challenges our valued customers are currently experiencing.”
A representative from Woolworths stated, “We are cognizant of the growing cost of living, and we are committed to maintaining our current prices for this essential family product to alleviate financial strain on household budgets during these challenging times. Our approach is to strike a balance between supporting Australian families and sustaining the dairy industry, which is why we have decided to absorb the recent rise in milk’s wholesale costs.”
Woolworths currently offers its one-litre own brand milk for $1.60, with prices of $3.10 for two litres and $4.50 for three litres. The most recent supermarket milk price adjustment occurred in July 2022, when both Coles and Woolworths raised their home brand milk prices by 25 cents.
