Money & Banking
Udderly ridiculous: Price of milk next in line for huge hike
With the cost of living soaring, we can now add home-brand milk to the long list of products being hit by significant price hikes.
In yet another hit to household budgets, Coles and Woolies will start charging more for the grocery staple, in a move that's being chalked up to rising prices at the farm gate – which in turn are being passed on to consumers.
Both supermarkets will charge $1.60 for a litre of homebranded milk, $3.10 for two litres and $4.50 for a family-sized three litre.
That's a steep increase of 25c on the one litre, 50c for two litres and a whopping 60c jump on three-litre bottles.
Coles will also increase the cost of its long-life UHT milk from $1.35 to $1.60.
“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.
Coles chief commercial officer Leah Weckert said the company was aware of increased cost of living pressures and remained committed to delivering value to its customers.
"Raising prices is never something we do lightly, however, the increased supply chain costs we are seeing, including higher payments to dairy farmers and processors, have necessitated these increases on Coles brand milk products,” she said.
Coles started paying its dairy farmers more for their product from the beginning of this month and has also agreed to higher costs asked by processors who source the milk themselves to supply the company.