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Daily Mirror
Daily Mirror
Business
Levi Winchester

Shoppers warned milk prices will soar even higher amid cost of living crisis

Shoppers have been warned that the price of milk will carry on rising as the cost of living crisis continues to grip struggling families.

Arla Foods' chief commercial officer Peter Giortz-Carlson blamed high energy prices and the war in Ukraine for the increased costs.

He said farmers are struggling with the price of packaging and feed for animals, which have risen by 40% - and said this will have to be passed on to customers.

Mr Giortz-Carlson told Sky News that milk supplies could be impacted as farmers "cannot cover the costs" of keeping running their farms.

He insisted Arla Foods' "main job here is to keep the products flowing, and make sure that there is a supply of food on the shelves."

Arla Foods sells dairy products such as Lurpak butter, Cravendale milk and Skyr yoghurt to supermarkets across the country.

The warning from the dairy producer comes after UK inflation surged to its highest level in 40 years.

Are you worried about rising supermarket prices? Let us know: mirror.money.saving@mirror.co.uk

The consumer prices index (CPI) measure of inflation rose to 9% in the 12 months to April, according to the Office for National Statistics.

This is up from 7% in the previous month. The Bank of England has already predicted that inflation could rise above 10% this year.

The inflation increase means it is one of the highest one year increases in consumer prices since records began in 1989.

Inflation is a figure used to explain how much the prices of everyday essentials have increased.

For example, if something that cost £1 a year ago now costs £1.02 today, that rate of inflation would be 2%.

Meanwhile, M&S chairman Archie Norman has warned that food prices could soar by as much as 10% this year.

He told BBC Radio 4’s Today programme: “It wouldn't be surprising to see food price inflation over the course of the year running towards 8% to 10%.

“But we don't know that yet because it runs through the year, some has gone through now but quite a lot's still to come.”

The boss of Asda has also warned of more food price rises to come.

Lord Stuart Rose demanded the government do more to help after ministers and the Bank of England were too slow to react to inflation.

It comes after the head of Co-Op supermarkets warned “chicken could become as expensive as beef” for the first time in decades as feed prices rise.

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