Egg-flation is reversing quickly. After rapidly rising egg prices made headlines across the country earlier this year, new inflation data show they are now falling at a jaw-dropping pace.
After rapidly rising egg prices made headlines across the country earlier this year, new inflation data show they are now falling at a jaw-dropping pace.From just April to May, egg prices dropped a massive 13.8% on a seasonally adjusted basis, according to the latest consumer price index numbers released on Tuesday. That was the biggest one-month decline since January 1951 — some 72 years.
In the fall through early this year, egg prices were far outpacing the annual inflation of other food items. For instance, eggs were 138% more expensive in December than they were the year before. Bernt Nelson, an economist with the American Farm Bureau Federation, told the Washington Examiner earlier this year that the scourge has been the worst in U.S. history for the avian flu. Because of its contagiousness, poultry farms that have affected animals end up having to cull their whole flocks.
“While the egg market in 2022 was dominated by the bird flu, the market this year has been dominated by its absence,” said Karyn Rispoli, senior egg market analyst at Urner Barry.
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