imcrookonit
Ex Member
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PRICES for key supermarket items such as bread, milk and breakfast cereal have risen sharply in the past five years, government data reveals.
The hip-pocket pain at the checkout couldn't come at a worse time for Aussie families, who are already facing increased mortgage repayments after yet another interest rate rise from the Reserve Bank earlier this week.
According to figures from the Australian Bureau of Statistics released yesterday, Melbourne shoppers paid an average of $3.78 for a loaf of sliced white bread in the three months to September 30.
That's up from $2.67 in the same period five years ago.
The average price for two litres of milk rose 53c to $3.64 over the same period.
Breakfast cereal, sausages, tomatoes, eggs and instant coffee were also in the long list of groceries to have become more costly in the past five years.
Choice spokesman Christopher Zinn said the rising cost of living and higher interest rates were starting to add up for Aussie consumers.
"The argument about the banks and the profits they're making is not a dissimilar issue in terms of supermarkets. They're very concentrated markets - one has four players, one has two players," he said.
"You're pretty much at their whim."
CommSec chief economist Craig James said the drought had driven up grocery prices in recent years.
"It's so much affected by the vagaries of the weather. You can go out there and say, 'well, I think that food prices could be rising over the next five years'.
"Then lo and behold, we could have some really great seasonal conditions and an abundance of supply. If there's plenty of water then prices will be constrained."
South Melbourne's Jacquie Dixon, 30, said she had noticed food prices rising.
"I lived overseas for a while and every time that I came back home to Australia, I noticed that food was a lot more expensive," she said.
"The things getting pricey are vegies, lemons, milk, yoghurt and ice cream. I've started shopping at markets because fruit and vegetables are cheaper and really good quality."
Higher grocery bills were putting pressure on family budgets, Ms Dixon added.
"My sister has two young kids and she tells me all the time how expensive food is getting."
Comments on this story
* alex alexis Posted at 2:07 PM Today
In the USA a loaf of bread costs AUD $1.70, one dozen eggs $1.70, two litres of milk $1.70, one kilo of ham $8.50, one kilo tomatoes $1.20 European prices are similar Why are Australian prices so expensive?
* maja Posted at 1:36 PM Today
and on current affair and today tonight they will shows us how family of 4 can eat for $50.00 a week or less, how to save electricty to put 3 jumpers on and cover your self with blanket, how to save water, shower two at the time, how to save gas, do not cook/heat and this is bounus as will double saving , only thing that will keep you sane is WORK, work long hours , how sad but is true , country like Australia to even air crap like that
* Ricky Posted at 1:14 PM Today
And the worst part is there is no real definable reason why the prices are going up.They`ll tell you it`s the drough,the GFC blah blah blah but you ask a farmer what he gets and you will see the money isn`t going into food production costs.It`s about time the govt stepped in and did something about this rort.
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