Is Eggflation Finally Coming To An End?
Egg prices fell in February for the first time in five months after more than doubling over the course of a year, according to the Bureau of Labor Statistics’ Consumer Price Index (CPI).
The price of a dozen large, grade A eggs rose from $1.93 in January 2022 to $4.82 in January 2024, but fell by 60 cents in February, stopping a five-month, uninterrupted climb in prices according to the CPI. The U.S. Department of Agriculture (USDA) blames the impact of avian bird flu on egg scarcity and rising prices.
Per the latest CPI data, retail egg prices collapsed last month. Big Egg's greed finally cracked! https://t.co/xGCYPdGuRH pic.twitter.com/AIqEysjcL8
— Scott Lincicome (@scottlincicome) March 14, 2023
Bird flu killed a record number of birds, including egg-laying hens, in 2022 and was unusually deadly in the fall, impacting production in the leadup to the holiday season, according to CNBC. Prices could rise again for the Easter season, however, and inflation in the supplies used for hen feed continue to keep prices high.
High egg prices prompted some individuals in border states to smuggle eggs across the Mexican border, causing a spike in egg-related smuggling attempts by U.S. Customs and Border Patrol.
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