Do you know what a pint of milk costs? It’s a question designed to catch out out-of-touch celebrities and politicians. In these times of inflationary froth, central bankers — and therefore markets — might want to pay attention, too.
Prices for milk, one of the most of basic of commodities, are surging. That matters not only for shoppers, but for those of us after a sign of how sticky inflation will be.
Milk has traditionally proved stubbornly resistant to inflation. Farmers and processors need to keep margins at a minimum if they want to sell their wares to the supermarket behemoths, which are under pressure from discount retailers.
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