High egg prices have shoppers boiling

By: Trademagazin editor Date: 2023. 01. 16. 09:05

Eggs have recently made the headlines for both an acute shortage of the supermarket staple along with skyrocketing prices across the country.

Egg prices rose more than 11% in December compared with the previous month and were up nearly 60% over the past year, making them a key driver of grocery inflation, the U.S. Bureau of Labor Statistics said Thursday. According to IRI, meanwhile, fresh egg inflation hit an 84.6% annual pace in December.

Experts attribute the unusually high egg prices to a combination of factors, including increased fuel and feed costs as well as the avian flu outbreak that has sickened tens of millions of hens, forcing farmers to kill many of the birds, depleting the nation’s egg supply. High demand from consumers looking to cut the amount of meat they consume by eating more eggs instead has also contributed to the crisis, CBS News reported.

Relief might soon start rolling into view. Producers are bouncing back from the challenges brought on by the avian flu “and are back to producing eggs,” American Egg Board President and CEO Emily Metz said, according to today.com.

The USDA reported that even as shoppers “support freshly-minted healthier lifestyle resolutions and eggs remain a popular go-to option” as 2023 begins, demand for eggs has started to “slowly retreat” from levels seen during the holidays. Still, it will take time for egg prices in stores to retreat, the agency cautioned.

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