Investment bank Barrenjoey warns price rises will accelerate by the end of the month as supermarkets inevitably pass on costs to customers.
Consumers are facing significant price increases for grocery items after almost half of supermarket suppliers reported their operating costs had risen by at least 10 per cent since the start of the Middle East conflict.
Barrenjoey consumer analyst Tom Kierath warned grocery price rises would accelerate by the end of the month, as he said suppliers would pass on those costs to supermarkets by demanding they lift prices on grocery items.
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Biggest rises were in vegetable oil and sugar prices, which increased by 5% and 7% respectively
