The latest data from the Bureau of Labor Statistics showed that grocery prices rose across the US in February, but egg prices declined in recent months as grocery stores boosted their prices.EggConsumers troubled by the increased prices heaved a sigh of relief. According to the Consumer Price Index (CPI), a key gauge of inflation, average egg prices fell nearly 7% from January to February.
A dozen large Grade A eggs cost $4.21 in February, down 13% from January’s all-time high of $4.82, according to federal data tracked by the St. Louis Fed branch, the first monthly decline since September. Despite the drop in prices, egg prices still increased by 55.4% compared to the same period last year, the largest increase of all consumer goods or services.
In early 2022, the average price for large Grade A eggs will be just $1.93 per dozen.
Consumer prices seem to have kept pace with wholesale prices. Nearly all individual food prices have increased during the new year. margarine 39.8%, butter 20.7%, flour 19.8%, bread 15.8%, breakfast sausage 9.7%, poultry 9.5%; Ice cream 13.9%, Cheese 9.4%, Milk 8.1%. Total fruit and vegetable prices rose 5.3 percent, with frozen fruits and vegetables up 15.8 percent; But wholesale egg prices paid by grocery stores and other retailers to egg suppliers fell in January and February.
Economists say sharp rise in egg prices is largely due to highly pathogenic poultry speciesinfluenzaThis disease spreading in poultry will kill a record number of birds including chickens in 2022.
In years past, the virus usually disappeared after spring. But it re-emerged last fall, experts say, when egg production dropped during peak egg demand season around the winter holidays.
Brian Moscogiuri, global business strategist at egg supplier Eggs Unlimited, said lower selling prices now reflect lower consumer demand at the start of the year, a typical seasonal pattern.
There have been no new confirmed cases of bird flu on commercial table egg farms since December, offering some relief to suppliers.
Moscow Zuri said, “Will there be another crazy, record-setting price? Not anymore.”
Although experts say that due toEasterDemand is usually strong before and after, egg prices may rise again before Easter in April, and bird flu is also likely to reappear.
american (translate to tag) eggs
