As we all know, Americans already suffer a lot due to very high inflation because food prices are already soaring in which eggs are marking the highest price ever recorded in the past decade.
According to retail analytics firm Information Resources Inc. (IRI), inflation is wreaking havoc on breakfast, with egg prices at supermarket stores rising 47% in July over last year.
According to the U.S. Bureau of Labor Statistics, in August, the average price of a dozen large, grade A eggs was $3.12, up 38% from the previous year when it cost $1.64.
Since the start of 2022, egg prices have been on the rise. According to egg specialists, the main reason for the high price is an avian influenza outbreak that has significantly reduced the egg supply.
Egg prices, in particular, have been driven higher by one of the worst bird flu outbreaks in U.S. history.
An egg manufacturer told MarketWatch that the avian influenza outbreak started almost six months ago and wiped off approximately 10% of the country's egg production earlier this year.
According to the United States Department of Agriculture (USDA), regional and California egg costs are up 13 cents for Jumbo, 3.5 to 17 cents higher for Extra Large, up 2.5 to 17 cents for Large, 2.5 to 16 cents higher for Medium, and up 9 cents for Small. The cost of New York eggs has increased by 10 cents for larger and 5 cents for medium-sized eggs.
Lower- and middle-income families were under pressure in August due to the continued rise in food prices.
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Disclaimer: This article is only for educational and informational purposes.