Egg prices hit record high of $4.95 and likely to keep climbing

Egg Prices Hit Record High of $4.95 and Likely to Keep Climbing

Egg prices have hit a record high as the US contends with an ongoing bird flu outbreak, but consumers didn’t need government figures released Wednesday to tell them eggs are terribly expensive and hard to find at times.

The Latest Monthly Consumer Price Index

The latest monthly consumer price index showed that the average price of a dozen Grade A eggs in US cities reached $4.95 in January, eclipsing the previous record of $4.82 set two years earlier and more than double the low of $2.04 that was recorded in August 2023. The spike in egg prices was the biggest since the nation’s last bird flu outbreak in 2015 and accounted for roughly two-thirds of the total increase in food costs last month, according to the US Bureau of Labor Statistics.

When are Egg Prices Expected to Go Down?

Relief is not expected any time soon. Egg prices typically spike around Easter due to high holiday demand. And the US Department of Agriculture predicted last month that egg prices were likely to go up 20% this year.

How Bad is the Bird Flu Outbreak?

The main reason that eggs are more expensive is the bird flu outbreak. When the virus is found on a farm, the entire flock is killed to limit the spread of disease. Because massive egg farms may have millions of birds, just one outbreak may put a dent in the egg supply. Nearly 158 million birds have been slaughtered overall since the outbreak began.

What Else is Driving Egg Prices Up?

Egg farmers also face higher feed, fuel, and labor costs these days due to inflation. Plus, farmers are investing more in biosecurity measures to try to protect their birds.

Conclusion

Egg prices are likely to continue to climb, driven by the ongoing bird flu outbreak, higher production costs, and increased demand. Consumers may have to continue to pay a premium for eggs, and some may have to settle for less frequent purchases or opt for more affordable alternatives.

Frequently Asked Questions

Q: How high are egg prices expected to go this year?

A: The US Department of Agriculture predicts that egg prices will rise 20% this year.

Q: Why are egg prices so high?

A: The main reason is the bird flu outbreak, which has led to a significant reduction in egg supply. Higher production costs and increased demand are also contributing to higher prices.

Q: Is it safe to eat eggs during the bird flu outbreak?

A: Yes, eggs and poultry are safe to eat as long as sick animals are not allowed into the food supply. Proper cooking and pasteurization can also kill any virus.

Q: Can I find affordable alternatives to eggs?

A: Yes, you may be able to find more affordable alternatives to eggs, such as egg substitutes or other protein sources.