The cost of a pint of milk has jumped by nearly a fifth in a year – one of the biggest price rises among a host of everyday purchases stretching family budgets. That’s according to the latest Office for National Statistics (ONS) figures that track the average prices of a range of supermarket goods.
These include meat, dairy, fresh fruit and vegetables and other essentials typically found in someone’s weekly shop. A pint of milk cost an average of 49p in February, which was 7p (17%) more than 42p a year earlier.
That was close to the sharpest rise of 45 food and drink items with comparable price data that were included in the ONS figures. The only thing to see a bigger increase proportionally was a 100-125g pack of ham, which rose 18% from £1.93 to £2.27.
Oranges went up from 32p to 37p each (16%), while instant coffee rose from £2.68 to £3.08 per 100g (15%). The cost of lamb chops, minced beef and fresh tomatoes all went up by around 14% in the year to February.
The vast majority (35) of the items got more expensive over the period, while three remained level and seven got slightly cheaper. The average price of an 800g loaf of wholemeal bread was £1.05 in February, which was down 6p (5%) on the year – although a similar loaf of white bread rose 12p (11%) to £1.26.
The ONS analysis also includes some common non-food items. The price of heating oil shot up by half (49%) to £695.71 per 1,000 litres, reflecting soaring energy prices. And a 20 pack of king-size cigarettes was £12.43, compared to £11.44 a year earlier – a 9% increase.
This comes as the ONS revealed that inflation – the rise in prices of goods and services – hit 6.2% in the year to February, which is the fastest rate in three decades. The overall price of food rose by 4.9%, while non-alcoholic drinks rose by 6.7%.
Chancellor Rishi Sunak gave an update on the economy in his Spring Statement on Wednesday (March 23), in which he announced a series of measures the Government hopes will ease the cost of living crisis for families across the country. These included raising the threshold at which people pay National Insurance (NI) to £12,570 from July, and a reduction on fuel duty of 5p per litre.
Mr Sunak said: “This statement puts billions back into the pockets of people across the UK and delivers the biggest net cut to personal taxes in over a quarter of a century.”
But the Labour Party said his plans fell short by not including a windfall tax on oil and gas producers’ recent soaring profits. They also called on him to fully scrap the planned hike in NI contributions this April, which will still see many workers pay more despite the increased threshold.
Shadow chancellor Rachel Reeves said: “For all his words it is clear that the Chancellor does not understand the scale of the challenge.
“He talks about providing security for working families but his choices are making the cost of living crisis worse, not better.”
