Additional Coverage:
- It’s official: Egg prices are at all-time highs after the biggest spike in 10 years (businessinsider.com)
Local shoppers are feeling the pinch as egg prices soar to record highs. A staggering 15.2% increase from December to January marks the largest monthly jump in a decade. The average price for a dozen Grade A large eggs now sits at a record $4.95.
This surge in egg prices significantly contributed to the overall 3% year-over-year inflation rate in January. Grocery prices overall jumped, driven largely by the egg situation.
However, housing costs also played a significant role, accounting for nearly a third of the total inflation last month. Gas and energy prices also saw increases.
The ongoing bird flu crisis is the primary culprit behind the egg shortage. The widespread H5N1 strain is decimating poultry flocks, forcing farmers to cull infected birds and disrupting egg production.
In response to the shortage and to discourage hoarding, some grocery stores are limiting the number of egg cartons customers can purchase. One popular chain has restricted purchases to one carton per customer per day, hoping to ensure wider availability.
Restaurants are also grappling with the soaring egg prices. One national chain has implemented a temporary surcharge for egg orders, acknowledging the difficult decisions both businesses and consumers face.
While eggs are a particularly striking example, other staples have also seen price increases. Milk, bread, and even coffee now cost considerably more than they did pre-pandemic.
While these items might feel particularly impactful to consumers, experts caution against viewing these specific examples as representative of overall inflation trends. The current egg and coffee situations are driven by unique factors that aren’t easily resolved.
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- It’s official: Egg prices are at all-time highs after the biggest spike in 10 years (businessinsider.com)