"Egg-flation" has contributed to Americans' rising grocery expenditures.
A devastating bird flu outbreak, supply chain issues, and high production costs have caused nationwide egg shortages and skyrocketing prices.
Consumers are so thirsty for affordable eggs that U.S. Customs and Border Protection recorded a large spike in illicit egg smuggling attempts earlier this year.
This week's Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics showed that egg prices declined 6.7% from January to
February after "sharp increases in recent months." February's 6.7% drop followed January's 8.5% rise and November's 11.1% rise.
This price drop should help buyers who have had to pay more or stop buying eggs. With Easter just weeks away, Easter egg decorators will appreciate
Egg prices dropped in February, but buyers shouldn't relax. The CPI report shows egg prices up 55.4% from last year.
This is an improvement from the previous inflation report, which found egg prices up 70.1% since January 2022. After months of gains, prices have a long way to fall.
Egg prices vary by location and store. According to Federal Reserve Bank of St. Louis CPI data, a dozen eggs cost $4.21 last month, up from $2