According to the latest consumer price index, egg prices increased by 59.9% from December 2021 to December 2022. Food prices overall have risen by 10.4% over the same period, compared with overall inflation of 6.5%.
Prices for a dozen eggs have risen from $1.79 to $4.25 on average. In high-cost areas like California, New York, and Hawaii, a carton of eggs can cost $7 or more.
Inflation has pushed up the cost of living, but the dramatic rise in egg prices is largely due to bird flu, commonly known as bird flu. Nearly 58 million poultry have died as of January 2019.
“Influenza is the single most important factor affecting egg prices,” Maro Ibarbul, a business analyst at Iowa State University’s Center for the Egg Industry, told The Washington Post. If we can control the outbreak, it will get better every month,” he added.
This price increase will affect many consumers as eggs are a household staple. It’s especially difficult for families on a tight budget and going through lots of eggs and shoppers. The fact that overall food costs are also rising only exacerbates the problem.
Restaurants and bakeries are also seeing increased expenses. Some have been forced to raise their prices, while others have closed completely. Not only will you find yourself paying more at the grocery store, but eating out and buying cookies at your local bakery can also be expensive.
Rising food costs are tough on people’s personal finances. Everyone needs to shop for groceries, and it’s not easy to stop buying eggs for regular use.
- Shop for the lowest prices. Many stores post their deals online, so you can see which grocery stores are saving you money before you go.
- Clip the coupon (digital). If you haven’t used a coupon app yet, you can easily cut your grocery costs.
- Get a grocery credit card. The best grocery credit cards offer 3% to 6% cash back at supermarkets.
There is hope that egg prices will drop this year. Until then, you can at least reduce your grocery bill by shopping, using coupons, and paying with your grocery credit card.
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