No country for omelette lovers. According to statistics issued on Thursday by the U.S. Bureau of Labor Statistics, grocery prices have remained persistently high (and are now increasing at a rate that is almost twice as fast as the general rate of inflation).
And while some items’ prices are also greatly impacted by the weather and illness, none has been worse than eggs: they are up 59.9% year over year, the highest pace since 1973, when the price of several agricultural items skyrocketed due to high feed costs, shortages, and price freezes.
A deadly bird disease has ravaged poultry flocks since early last year, particularly flocks of turkeys and egg-laying hens. This was made worse by rising input prices, like feed, and rising demand of the product.
“Even though we’re seeing inflationary pressures ease, we still have a war in Ukraine,” Tom Bailey, senior consumer foods analyst with Rabobank, told CNN. “Fertilizer costs have improved, but they still remain very high. Energy costs have improved, but they still remain relatively high. Labor costs still remain a problem — and the list goes on.”
However, the most recent Consumer Price Index reveals that these price hikes are at least escalating more slowly. Prices for “food at home” climbed 0.2% from November to December. Since March 2021, that is the weakest monthly gain.
