Milk prices: Milk just 'first cab off the rank' for supermarket price hikes, expert warns

Milk prices: Milk just 'first cab off the rank' for supermarket price hikes, expert warns - 9Honey
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Why your next grocery shop will cost more: New price hikes hit chilled goods and produce
By Jo Abi | 2 weeks ago
Recent home brand milk price hikes are just "the first cab off the rank" when it comes to expected grocery price increase s, Today money expert Joel Gibson has warned.
Coles, Woolworths, and Aldi hiked the price of their home brand milk ranges by 20-50c across the board this month.
This followed a plea from Aussie farmers struggling to cover the increased cost of production from soaring fuel prices due to the conflict in Iran.
Price hikes on home brand milk are just 'the first cab off the rank', a money expert warns. (Nine)
"We were told that dairy would be the first product category, 'cause of the Iran war, to start going up," Gibson explained on Today .
"And it has. So now we have to keep a close eye on the other stuff in the supermarket too."
Gibson said chilled grocery items will the the first to go up, followed by fruit, vegetables, and meat, with milk "the first cab off the rank".
"Obviously, everything in the supermarket is affected by fuel prices. We have heard about the fuel surcharges suppliers have been putting on supermarkets.
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"Obviously, everything in the supermarket is affected by fuel prices." (Getty)
"There's been push back from the supermarkets, but it is now starting to flow through."
Gibson warned that prices are unlikely to decrease once the market settles.
"It never goes down, it just stays the same or goes up more steeply. That's our experience in the past.
"In the short term, we are going to unfortunately see big grocery price increases."
Gibson also warned the cost of home brand milk can fluctuate depending on where customers purchase it from.
Coles, Woolworth and Aldi have increased the number of Metro supermarket locations in busier areas where grocery prices tend to be higher across the board.
Gibson conducted a "fascinating little experiment" and found a 2L Woolworths home brand milk costs $3.55 at one of the supermarket's general locations, but at a Woolies Metro store, it costs shoppers up to $4.
This is because "pricing is slightly different at the metros".
Gibson warned supermarket Metro stores cost more than general local stores. (Nine) Coles, Woolies, and Aldi have increased their number of Metro stores in inner-city areas. (Nine)
Home brand milk ordered via delivery apps will cost customers even more.
A Coles home brand 2L milk ordered on Uber Eats is priced at $3.60 and a 3L is $5.20. That is before any delivery fees are added to the purchase.
When Gibson ordered a 2L milk via a delivery app, he was left to pay $18.37 due to the higher prices and delivery fees, service fees, and an order fee.
So, you'd best avoid ordering a single bottle of milk via the delivery apps!
"It's really important to know that where you buy the milk and how you get it, delivered or pick up, or whatever, it can actually make a massive, massive difference to the cost of any product in the grocery store," Gibson said.
Coles was first to increase the price of home brand milk, followed by Woolworths and Aldi a day later. (Getty)
The money expert further explained Coles and Woolies have what they are calling "Local" and "Metro" stores, with Metro store prices trending higher.
"There's 140 of them [Metro stores] across the country," he said.
"They are mostly concentrated in inner suburbs, the more affluent suburbs of Sydney and Melbourne, and in those places, the prices can be higher."
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Gibson said it's "really important to know where you're shopping" to avoid paying those higher prices if possible.
He cited a recent test by the Sydney Morning Herald and The Age that found purchasing the ingredients for Beef Stroganoff from a typical Coles, Woolworths or Aldi cost less than at their respective Metro locations.
At a Coles Local store, the cost was $50.18 and at a Coles Metro, that increased to $59.38-$70.58 for the same set of ingredients.
Gibson said it's "really important" Aussies know where they're shopping to avoid higher prices. (Getty Images/iStockphoto)
Gibson said the price difference is also because the Metro locations don't have the same range of products and as many of the more affordable home brand items as the larger Local supermarket locations do.
He said supermarket Metro locations are situated in "really convenient locations" where Aussie shoppers can pop in on the way home from work – but they will end up paying higher prices as a result.
"As always, convenience does cost you."
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