The above graph shows the farm-gate price of 1 litre of milk. It is now at an all time high since records began in 1970.
He\’s not adjusted for inflation.
1971 price of milk at farm gate was 4.16p.
Adjust by retail price index and this is now 44p.
Adjust by average earnings and it\’s 75p (2009).
Milk has, depending upon which number you want to use, fallen in real price by somewhere between half and two thirds.