Coles and Woolworths have increased the price of milk, putting more pressure on Australian families’ budgets.
Coles has already announced the price hike whereas Woolworths is to hike from Friday.
Both the supermarket giants will charge $1.60 for a llitre of own-branded fresh milk, increasing the price from $1.35 to $1.60, while the 2-litre bottles will cost $3.10, previously priced at $2.60.
The hike in milk prices will surely be going to hit household budgets, as the cost of living continues to surge in the country.
“The farmgate prices paid to dairy farmers have risen significantly this season, and as a result, we’re paying our own brand suppliers more for milk,” a spokesperson for Woolworths said.
“Across the dairy cabinet, brands have already increased their retail prices to reflect higher wholesale costs across the entire industry.”
Coles has also clarified the reason for the sudden jump in price, saying increases in packaging costs, transportation, resources, and increase in farmgate prices paid to dairy farmers have resulted in the price rise.