Why you could be paying 50% more for a jug of milk this year

The United Kingdom is no exception: inflation hit a 40-year high of 9% in April and is forecast to peak above 10% toward the end of this year. The high cost of fuel and heating is just part of the problem. Food prices have also leaped, climbing nearly 7% compared with a year ago, according to data released Wednesday. A big part of the problem is the soaring price of dairy products. The cost of milk, cheese and eggs — supermarket staples — shot up 9.5% in the 12 months to April. The price of whole milk rose more than 12%, while low-fat milk jumped 16%.There could be more

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