Grocery prices have risen by almost 10 per cent, according to a report from investment bank UBS. Why are supermarkets outpacing inflation?
So how much are grocery prices actually increasing, what is behind the price hikes, and what do the supermarket giants say?UBS Australia's Evidence Lab, which tracked online prices of 60,000 grocery items at Coles and Woolworths, found prices increased by 9.6 per cent in the 12 months to April.SBS News
"We suggest the achievement of a new peak in food inflation is due to ongoing cost pressures on suppliers due to commodities and the domestic supply chain, including labour." "UBS’s sample data does not capture our full range of products and does not capture changes in customer buying behaviours which impact our sales volumes and product mix," the spokesperson said.Feel like you're paying more for less? These are the latest items to be hit by 'shrinkflation'
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