With a long-awaited reduction in the price of the essential food that has been devastated by the world’s worst avian flu outbreak, egg prices fell for the first time in five months. Eggs were up 55% since the flu outbreak started. Cleanup costs for farmers come at a prohibitive cost, which trickles down to the consumer.
Eggs are highly popular because they are a main source of protein for breakfast and high in nutrients. Eggs are also highly nutrient-dense because they are packed with protein, good fats, and vitamins A, D, and E as well as choline, iron, and folate.
According to Labor Department data issued on Tuesday, prices dropped 6.7% last month, and decreases in orange and bacon prices will help to make breakfast a little less expensive in the US. While avian influenza killed tens of millions of chickens, egg prices recently reached a record high.
Even yet, the CPI index for food rose by 0.4% rather than the 0.5% that it did in January. It coincided with rising prices for items like meat, ham, potatoes, and bread, which helped to drive up inflation rates throughout the US economy. Frozen vegetables are at an all-time high.
Consumer Price Index (CPI) data for February from the Bureau of Labor Statistics (BLS) shows that food prices have increased by 10.2% from February 2022. Costs are up 0.3%, which is less than last month when the cost of food consumed at home increased by 0.4% from December 2022.
The Bureau of Labor Statistics reported, “The Prices for food at home up 13.5 percent for year ended August 2022. The Consumer Price Index for All Urban Consumers increased 8.3 percent for the year ended August 2022. Over that period, prices for food at home increased 13.5 percent, the largest 12-month percentage increase since the period ending March 1979.”
Inflation in June of 2022 was as high as 9% and now hovers around 6%.
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