New figures show the price of groceries at Coles and Woolworths has jumped by more than nine per cent in the December quarter across 60,000 different products.
New figures show the price of groceries at Coles and Woolworths has jumped by more than nine per cent in the December quarter across 60,000 different products. Fruit and vegetable prices plateaued in the last quarter, while dairy and meat prices continued on an upward trajectory.
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Fresh food prices surge at the supermarketSupermarket prices have increased over the past few months, with Coles and Woolworths food prices jumping 9.2 per cent on average in December. Increasing from an average of 8.2 per cent in the September quarter, the research from UBS showed. 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.
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