The price of a pint of milk has risen above £1 for the first time at Sainsbury’s as the cost of living crisis continues to deepen.
The supermarket chain has started selling a single pint for £1.05 in some of its smaller stores, while a pint of two is now £1.35.
It means buyers are now paying two and a half times more for milk than a year ago, when the price of an average pint was 43p, according to official figures.
It comes as the consumer price index (CPI) jumped to 10.1% this week, from 9.4% in June and its highest level since February 1982, mainly due to fuel prices and foodstuffs.
Milk and other dairy products have been particularly hard hit, with butter up 27.1% and cheese up 17% in the past 12 months, according to data from the Office of National Statistics (ONS).
Meanwhile, the price of a pint of milk at Sainsbury’s biggest supermarkets costs 85p, a fifth less than in their local stores, while two pints will set you back £1.15.
The price of a pint of milk at Sainsbury’s has risen above £1 for the first time, with some local shops now charging £1.05
Sainsbury’s explained that the price difference is because convenience stores cost more to run.
A spokesperson said: “Rents, for example, are often more expensive in our smaller stores due to their location.
“It may also be more difficult to deliver products to our local stores.”
All UK supermarkets have raised the price of milk to the latest price after farmers said the cost of producing a liter had risen from 23p to 44p in the space of a year, according to the Sun.
Sainsbury’s explained that their local stores have to charge more as they cost more to run
How much has the average cost of living increased
Rising prices are impacting all sectors in the UK, with items now costing significantly more than they did in 2017. According to Penfold Pension, here’s how much certain purchases would have set you back five years ago and into 2025 on average.
pint of beer
Cost in 2017: £3.52
Cost in 2022: £4
Expected cost in 2025: £4.42
pint of milk
Cost in 2017: 43p
Cost in 2022: 55p
Expected cost in 2025: 64p
Music concert ticket
Cost in 2017: £45.49
Cost in 2022: £89.85
Expected cost in 2025: £142.42
Cost in 2017: £28.59
Cost in 2022: £54.80
Expected cost in 2025: £84.94
Cost in 2017: £10
Cost in 2022: £18
Expected cost in 2025: £26.64
Cost in 2017: £23
Cost in 2022: £40
Expected cost in 2025: £58
Cup of coffee
Cost in 2017: £2.25
Cost in 2022: £3.40
Expected cost in 2025: £4.44
Cost in 2017: £13,500
Cost in 2022: £20,000
Expected cost in 2025: £25,778
Education (per year)
Cost in 2017: £296.40
Cost in 2022: £431.60
Expected cost in 2025: £549.73
Monthly streaming services
Cost in 2017: £6.74
Cost in 2022: £9.24
Expected cost in 2025: £11.30
Rental accommodation (per week)
Cost in 2017: £192
Cost in 2022: £256.14
Expected cost in 2025: £307.47
Cost in 2017: £223,807
Cost in 2022: £281,000
Expected cost in 2025: £323,150
Cost in 2017: £9.91
Cost in 2022: £12.33
Expected cost in 2025: £14.14
Cost in 2017: £99
Cost in 2022: £1.19
Expected cost in 2025: £1.33
Transportation (per year)
Cost in 2017: £4,144.40
Cost in 2022: £4,820
Expected cost in 2025: £5,291.40
Hotels per night
Cost in 2017: £97.20
Cost in 2022: £112.26
Expected cost in 2025: £122.70
Appliances (per year)
Cost in 2017: £102.10
Cost in 2022: £112.20
Expected cost in 2025: £118.86
Source: Pension Penfold
And it looks like the price could rise further, with the average cost of a pint of milk, currently 55p, set to be 64p by 2025.
Pension provider Penfold has also predicted that the prices of other food items will skyrocket over the next three years, with the average pint of lager, currently £3.95, set to reach £4.42 by 2025 and up to £13.98 in London.
According to the report, other areas will also be hit with huge increases, including transport, accommodation costs and basic necessities.
The report says the cost of a pack of 20 cigarettes has risen by nearly £3 over the past five years, with the average price of a pack expected to reach £15 by 2025.
Concert ticket prices are up 98% from five years ago.
Transport costs have also risen, with more than a quarter of salaries being spent on public transport each year.
This figure is expected to increase by nearly 10% over the next three years.
The average Uber ride has increased by 80% since 2018, from £10 to £18, and a standard ride could cost up to £27 in the future.
Britons also face Europe’s highest prices for public transport, at over 55 pence per mile. The average in Europe is 14 pence per mile.
The cost of a cup of coffee has also increased. What would have cost you £2.25 in 2017 will now cost £3.40 and is expected to reach £4.44 by 2025.
Even the cost of paying for streaming services, such as Netflix, Amazon Prime and Disney Plus will not be free from inflation.
According to the report, these have increased by almost 40% over the past five years, from an average of £6.74 in 2017 to £9.24 today.
It is predicted that by 2025 the cost could rise further to an average of £11.30.
Rising costs in the hospitality sector will also push up takeaway, bar, club and hotel prices over the next 12 months.
They also mean a standard meal at Nando’s of butterfly chicken, sides and drink for a family of four would drop from around £68 to £72.08.
In 2017 the average meal would have cost less than £30, but five years later it will cost you almost £55. Costs are predicted to rise to almost £85 in 2025.
It comes after fast-food chain McDonald’s raised the price of its trademark cheeseburger to keep up with inflation.
The fast food giant raised its price for the first time in 14 years last month – from 99p to £1.19 – and also announced that breakfasts, value added meals, chicken nuggets and coffee would become more expensive.
Restaurants and pubs are facing higher energy bills, ingredient shortages and supply issues as supplies become more expensive.
There are also ongoing problems with attracting and retaining staff, resulting in higher wages to run the business.
As well as rising dairy costs, this week’s ONS figures also recorded strong increases for poultry (16.1%), fish (13.4%) and crisps (13.4%).
ONS chief economist Grant Fitzner said: ‘A wide range of price rises have pushed inflation up again this month.
“Food prices have increased notably, especially bakery products, dairy products, meat and vegetables, which has also been reflected in the rise in takeaway prices.
“Rising prices for other basic items, such as pet food, toilet rolls, toothbrushes and deodorants, also pushed up inflation in July.
“Driven by increased demand, the price of package holidays has risen, after falling at the same time last year, while air fares have also risen.
“The cost of raw materials and goods leaving the factories continued to rise, driven by the price of metals and food respectively.”
Susannah Streeter, analyst at Hargreaves Lansdown, told the Evening Standard: ‘The relentless rise in prices continues, with few signs of a pause for consumers desperately trying to make ends meet.