Four pints of milk has now been £1 at all the major supermarkets for well over two years now. Indeed, it fell to 89p in Iceland supermarket briefly. This is astonishingly low. Milk has not been this cheap since the mid-1980s. Over Christmas, Asda was selling one kg of carrots for 20p – a price not seen since 1978. This is food deflation on a dramatic scale.