USA ‘Eggflation’ Crisis
Source: Statista
Over the past year, Americans have witnessed skyrocketing prices for various everyday items, from groceries to fuel. However, there's one particular commodity that has been cracking budgets lately - eggs. The average cost of a dozen Grade A large eggs reached a whopping $4.25 last month, compared to just $1.79 twelve months earlier, according to the U.S. Bureau of Labor Statistics. Inflation isn't solely to blame for this "eggflation" crisis; a severe bird flu outbreak in 2022 significantly disrupted egg supplies, resulting in a mid-single-digit percentage decline in production. With eggs being a challenging item to substitute, even small supply drops have had a big impact on prices. This article delves into the factors behind the soaring egg prices and examines how some producers have reaped record profits despite the avian flu outbreak, sparking discussions about potential windfall profits taxes.
SOURCE: Statista
