Shoppers have been taking advantage of cheaper milk, vegetables and clothes as a result of the supermarket price wars and the falling price of oil. Prices have fallen by the largest amount in almost a decade as supermarkets continue to slash the cost of milk, vegetables and meat as they compete with each other and with emerging budget chains for customers. And on the high street clothes and footwear have become even more affordable - with prices dropping by around 7.8 per cent in the last 12 months - as the low cost of oil makes transporting and selling goods even cheaper. Consumers are taking to the shops as they cash in on the falling prices of supermarket staples and clothes . Milk, bread, eggs, cheese and roasting chickens have seen the biggest fall in price at the supermarket checkout as the large chains have been forced to reduce their prices to compete with the rise of budget stores Aldi and Lidl. According to the British Retail Consortium-Nielsen price index, goods in shops cost 2.1 per cent lower this March than the same time last year, the Guardian reported. This is the biggest fall in prices in a single year since records began nine years ago, in 2006. It is also a larger drop than the 1.7 per cent recorded the month before. Fresh food prices have dropped by around 0.9 per cent in a year, while the figure for electrical items was even greater, falling 5.7 per cent in the last 12 months. And the falling costs for consumers, which have been taking place for the last 23 months, show no sign of stopping. Mike Watkins, head of retailer and business insight at data firm Nielsen told the Financial Times: 'Prices continue to fall across the retail industry and deflation is likely to be with us for the near future, which means shoppers are going to be able to stretch their budgets further when shopping in store or online.' Cheese and milk have seen some of the biggest fall in prices - of around 0.9 per cent in the last 12 months . The price of fresh foods such as eggs and lettuce fell by more in March, than the 0.4 per cent in February . The cost of electricals, such as toasters and kettles, have dropped by 5.7 per cent in the last 12 months . Cheaper prices and inflation reaching zero in February have led to a boost on the high street as people have more cash to spend, and are finding their money goes even further. Analysts predict inflation could have fallen to a negative in March. Falling prices of oil have also led to cheaper fuel for consumers in the petrol price wars. Fuel was reduced to 99p per litre  in January this year - the first time prices had reached such a low in five years. Milk, eggs, cheese, vegetables and meat have fallen by 0.9 per cent. Electrical goods have dropped 5.7 per cent. Falls of 7.8 per cent have been seen in the cost of shoes and clothes . Petrol prices reached 99p a litre earlier this year. After a Midlands petrol station reduced prices to below £1, Asda, Morrisons and Sainsbury's followed suit and experts predict that the lower cost of petrol could be come the norm. The cost of a barrel of oil fell from $110 a barrel to around $58 this month - reducing the cost of petrol and diesel for customers and giving them even more money to spend in the supermarkets and high streets. Professor Stephen Glaister, director of the RAC Foundation, estimated earlier this year that UK drivers are collectively £30million better off every single month. However, while the price wars have benefited customers they have been having an impact on independent shops and dairy farmers. Earlier this year, as supermarkets went to war with Iceland, Aldi and Lidl, the cost of a pint of milk was slashed to 22p - making it cheaper than bottles of mineral water. Farmers raised concerns that the ongoing wars are devaluing their product and could end up putting many out of business. The recent abolition of the EU milk quota is expected to further cause the cost of dairy products to plummet, as consumers are set to take advantage of plunging prices.
Shoppers are taking advantage of cheaper eggs, milk, cheese and meat .
Cost of staples has been slashed as supermarkets compete for customers .
Bigger stores competing with rise of budget chains Aldi and Lidl on price .
Prices in shops are 2.1 per cent lower this year than 12 months ago .