Some of the main staples in Australian grocery baskets have had their sharpest price increases in decades over the past year, according to the Australian Bureau of Statistics.
Dairy prices have risen 15 per cent due in part to increased production costsPrices for milk, yoghurt and cheese are up almost 15 per cent from the same time last year.For fruit and veggies, the jump is closer to 5 per cent, while meat is up 4 per cent.
The strongest price increases since Christmas were for soft drinks, fruit and veggies and a category known as "not elsewhere classified" .The NEC category was up 12 per cent on the same time last year and up more than 3 per cent since December.Dairy market analyst Michael Harvey said price increases for drinking milk and cheese were now at their highest level in decades.
In the middle of each year, most dairy farmers lock in a farmgate price for their milk with a dairy processor.
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