Egg prices have been on the rise for the past three months due to the continued battle against the highly pathogenic avian influenza, also known as the bird flu. In July, egg prices surged by 19.1% compared to the same month the previous year, while the overall consumer price index rose by just 2.9%. This increase in egg prices has been a cause of concern for consumers, especially during the pandemic when grocery prices were already high.
The spike in egg prices from March to April is connected to seasonal patterns in the bird flu, which has had historic outbreaks in 2022 and 2023, and resurgences in states like Colorado and California. Despite the price increase, consumer demand for eggs remains “inelastic,” meaning consumers will continue to purchase eggs at the same rate regardless of price changes.
The average price of a dozen large Grade A eggs exceeded $3 in July for the first time in over a year. Although prices are still more than 20% lower than they were last year, they have increased by about 42% compared to July 2021.
Moving forward, the price of eggs will depend on the state of the bird flu, with upcoming seasons potentially bringing relief as outbreaks are less likely. Consumers may continue to see fluctuating prices depending on the impact of the HPAI. Despite the challenges, experts remain hopeful that prices will stabilize in the future.
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