Egg prices continue to soar – if buyers can even find them in grocery stores.
In January only, the cost of eggs around the United States jumped more than 15% A year ago at around $ 4.95 per dozen. This represents the overall inflation rate of 3% in the United States five times, data from the consumer price index showed on Wednesday. In 2019, consumers could pick up a dozen eggs for around $ 1.54, but last year, the price had climbed to $ 4.15 – an increase of 170% The CBS News price tracker everyday goods.
The peak of egg prices last month underlines the devastating Impact of avian flu, Who killed more than 40 million weighted birds the eggs last year. Including ducks and chickens, 148 million birds were ordered euthanized Since the current strain of the bird flu, H5N1, has started to spread in the United States in 2022.
If there is good news, it is because egg prices should at least increase more slowly during the year. The January increase “is probably one-off,” said EY, Gregory Daco’s chief economist. But this can come as a small consolation for the millions of consumers who continue to combat higher food costs at home and in restaurants due to the record prices of eggs.
Why are egg prices so high?
The price peak in the eggs is largely driven by the bird flu, which continues to hit the farms and erase the herds. When demand remains stable for a product that is not easily substituted and the supply decreases, prices tend to increase.
“If you don’t have a bird, you don’t have an egg,” said Vegas Sharon Linsenbardt, founder and owner of Barn Buddies Rescue and Sanctuary in Las Vegas. The millions of weighted hens killed by avian influenza cannot be replaced easily and quickly, added Linsenhardt, which has sales limited to two dozen eggs per family.
“The high prices of eggs are due to the problem of avian influenza, which reduces the offer of eggs available for sale,” said COLUMBIA business school professor Yiming Ma, at CBS Moneywatch. “If you have less offer, that increases prices.”
Egg supplies should remain forced as long as the bird flu epidemics continue, according to David Anderson, professor of agricultural economy at Texas A&M University.
Kate Gibson
Anderson, noting a cultural change that could exacerbate the problem, also said that he had noticed that the Americans leaned over more protein diets, stimulating the demand for eggs.
“We have this nutritional tendency, and as people integrate more protein in their diet, this increases the overall demand for eggs and establishes a higher demand for demand,” he said. “Then, when we get this shock from the offer, low and here, we get higher prices.”
Egg ration retailers
The current egg shortages and the price increase recently caused a waffle house of the breakfast chain 24 hours a day to add a 50 cents could by eggWhile some large grocery channels impose limits on the number of eggs that buyers can buy at some point.
Walmart reduces card purchases from 60 accounts for two by purchase “to ensure that more customers can have access to eggs,” said a spokesperson for the retailer.
“Although the offer is very tight, we work with suppliers to try to help meet customer demand, while trying to maintain the prices as low as possible,” added the spokesperson. At Sam’s Club, a Walmart division, the Warehouse Club limits the number of egg purchases for two per article in its nearly 600 stores across the United States
On Wednesday, most of the nearly 2,000 American stores in Target had eggs in stock, and the retailer has only purchasing limits in its Hawaii stores, according to a spokesperson for the retailer. “We will continue to monitor and settle if necessary,” they added.
Kroger, who operates about 2,700 American grocery stores, did not impose a business level on the company’s purchases, although some stores limit customers to buy two dozen per visit.
Giant Eagle said that he sold conventional dissected eggs “at our cost or below all our supermarkets” to limit the impact of the rise in egg prices on its customers. The regional grocery store, which operates more than 470 stores in Indiana, Maryland, Ohio, Pennsylvania and Virginia-Western, encourages buyers to limit their purchase to a maximum of three egg boxes per visit.
Whole Foods, belonging to Amazon and Costco, did not respond to requests for comments.
When will egg prices drop?
Egg prices should increase a total of 20% in 2025, according to to the American Department of Agriculture. Despite the cost increase, consumer demand remains firm and could even increase as Easter approaches, offering little hope of respite on prices.
According to experts, two things have to happen so that prices relax. The United States must contain the bird flu, and the older chickens that have exceeded their productive primary numbers, as well as the sick chickens, must be replaced. Exactly how long this will take is uncertain.
“It is not clear that we have fully controlled the spread of the bird flu. This is the first step, and it will be a few months after that before being able to reproduce and replace the population of installation, ”told CBS Moneywatch Bryan Spillane, analyst of Bank of America Senior Food and Beverage.
It expects it to be at least three to six months before prices moderate. If restaurants continue to implement supplements for eggs, this could possibly put a shock absorber on request.
In the short term, Anderson expects the eggs to continue to hit consumer portfolios. “I would not be surprised to see the prices continue to increase, because we continue to undergo epidemics,” he said.
Consumers concerned about costs can compare stores between grocery stores, noted the spokesperson for Nerdwallet Sara Rathner, but know that if price differences are not substantial, you could eat cost on gas.
Other ways to save on eggs include the use of store circulars or buy them with a money credit card. “Then you combine several ways to reduce your bill,” she said.