Supermarket prices have increased over the past few months, with Coles and Woolworths food prices jumping 9.2 per cent on average in December.
Investment bank UBS surveyed more than 60,000 grocery items, finding that food inflation was the strongest in the fresh food category, with it up 9.6 per cent as dairy and meat increased the sharpest.
The numbers from UBS suggest that while inflation in some parts of the economy is starting to cool off, food and vegetables keep going up in price. UBS expects food inflation to continue this year, with food manufacturers and producers expecting to continue lifting their prices until at least June.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Food inflation at Woolworths, Coles jumps to 9.2pcThe hip pocket pain for shoppers worsened near the end of the year in a UBS study of prices of 60,000 items at the supermarket giants.
Read more »
Supermarket prices surge and there's more inflation to come, warn analystsSupermarket price increases accelerated over the past three months of 2022, with Woolworths leading the charge, according to research by investment bank UBS.
Read more »
Coles, Telstra hold out as employers drop vaccination mandatesLegal experts have urged businesses to review their mandates because the current COVID-19 circumstances may no longer legally justify the measure.
Read more »
Energy minister defends price cap, says it's having an impact on reducing energy pricesEnergy Minister Chris Bowen defends the government's energy relief plan, issuing new figures that show a drop in forecast wholesale electricity prices for 2023.
Read more »
G7 officials to review price cap on Russian oilG7 officials have announced they will review the level of the price cap on Russian oil in March. A final decision has been postponed as the group wants more time to assess the market. The G7 plans to set two caps – one for diesel and gas oil, and another for fuel oil. The Group of Seven, the European Union and Australia had agreed to cap seaborne exports of Russian oil at $60 a barrel in December.
Read more »
PM ‘asked’ to visit Alice Springs amid crime crisis: Jacinta PriceNT Senator Jacinta Price says she is “asking” Prime Minister Anthony Albanese to visit Alice Springs amid calls for federal intervention into the town’s crime crisis. “He’s made several overseas trips to visit countries in need of support, but Alice Springs has been described as a warzone and has been so for some time now,” Ms Price told Sky News Australia. She said the Alice Springs police are “under the pump” and can’t “get the problem under control”. “It’s horrifying, and it’s sad that my hometown is currently faced with this situation,” Ms Price said.
Read more »