The news follows the turbulent weather earlier this year with the ‘Beast from the East’ still ‘wreaking havoc’ months on. As freezing temperatures prevented dairy herds from accessing grazing as early as normal, decreased monthly milk production has resulted in reduced supply and prices ‘inevitably rising.’
Products most affected include butter, which has increased +21% YOY equating to +32p per 250g; and milk and cheddar at +2% and +13p per kg and +1p per pint respectively.
Managing director Paul Connelly said: “With the Great British Bake Off just around the corner, bakers new and seasoned could be feeling the pinch with the rocketing price of butter.
“The Beast from the East is still having a major impact, and there are no signs of dairy prices decreasing until at least early 2019.
“Our supplier insight shows that as well as butter, milk and cheese prices are also at a high.
“While we’re not suggesting it’s time to panic-stock the fridge, people across the UK could find their baking habit, daily cuppa or cheesy treat is costing them more for some time yet.”