US egg prices hit record-high despite White House optimism

Apr 10

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Kalé Carey Anchor

By Kalé Carey (Anchor), Evan Hummel (Producer), Joey Nunez (Video Editor)

The U.S. Bureau of Labor Statistics reports the price of a dozen grade A large eggs hit a new record high in March. The announcement comes as some economists expected egg prices to drop.
The new numbers come as the White House claims the price of eggs is dropping. The White House says it’s just a matter of time before consumers see prices fall at the grocery store.
The figures come as the agricultural industry recovers from a bird flu outbreak, which led to the culling of millions of birds.

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Egg prices hit a record high in March despite optimism from the Trump administration.

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How much do eggs cost now?

The U.S. Bureau of Labor Statistics Consumer Price Index (CPI) revealed on Thursday, April 10, that the cost of a dozen grade A large eggs rose to $6.23 per dozen in March, up from $5.90 in February and $4.95 in January.

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The rise means that consumers and businesses relying on eggs may see little relief as demand for eggs typically increases before Easter, on April 20.

What has the White House previously said?

The news comes despite White House reports of wholesale egg prices falling and optimism over dropping inflation for March. Wholesale egg prices did decrease in March, according to the U.S. Department of Agriculture, but grocery store prices have yet to follow.

How are economists responding?

Economists said the rise in egg prices from January to February came from the bird flu outbreak, which led to the culling of millions of hens to stop the further spread of the virus. Some, however, expressed surprise at March’s numbers as they expected prices to fall.

Industry officials noted wholesale prices did not start dropping until mid-March, which may not have been enough time for shoppers to see a price decline.

How is the Trump administration responding?

Agriculture Secretary Brooke Rollins suggested the rise in egg prices is temporary, saying the overall CPI shows a slight decline in prices for goods and services across the U.S. economy. Rollins said she believes the price of eggs will soon fall in line.

President Donald Trump announced on April 2 that the White House Egg Roll would feature real eggs again this year despite the rise in prices. Farmers reportedly typically donate more than 30,000 eggs for the event.

The Trump administration also announced in March that it would begin importing eggs from South Korea and Turkey to alleviate a supply shortage.

Tags: Agriculture, Bureau of Labor Statistics, Consumer Price Index, Donald Trump, Economy, egg prices, egg shortage, Eggs, Inflation, U.S. Department of Agriculture, U.S. Economy, White House

[Kalé Carey]

EGG PRICES HIT A RECORD HIGH IN MARCH DESPITE OPTIMISM FROM THE TRUMP ADMINISTRATION.

THE BUREAU OF LABOR STATISTICS CONSUMER PRICE INDEX REVEALED THURSDAY A DOZEN GRADE A LARGE EGGS ROSE TO SIX-DOLLARS AND 23 CENTS PER DOZEN IN MARCH, UP FROM FIVE-DOLLARS AND 90 CENTS IN FEBRUARY, AND FOUR-DOLLARS AND 95 CENTS PER DOZEN IN JANUARY.

THE RISE MEANS CONSUMERS AND BUSINESSES RELYING ON EGGS MAY SEE LITTLE RELIEF AS DEMAND FOR EGGS TYPICALLY INCREASES BEFORE EASTER, WHICH IS ON APRIL 20TH.

THE NEWS COMES DESPITE WHITE HOUSE REPORTS OF WHOLESALE EGG PRICES FALLING AND OPTIMISM OVER DROPPING INFLATION FOR THE MONTH OF MARCH.

WHOLESALE EGG PRICES DID DECREASE IN MARCH, ACCORDING TO THE U-S DEPARTMENT OF AGRICULTURE, BUT GROCERY STORE PRICES HAVE YET TO FOLLOW.

ECONOMISTS SAY THE RISE IN EGG PRICES FROM JANUARY TO FEBRUARY CAME FROM THE BIRD FLU OUTBREAK, WHICH LED TO THE CULLING OF MILLIONS OF HENS TO STOP THE FURTHER SPREAD OF THE VIRUS.

SOME, HOWEVER, EXPRESSED SURPRISE WITH MARCH’S NUMBERS AS THEY EXPECTED PRICES TO FALL.

INDUSTRY OFFICIALS NOTE, WHOLESALE PRICES DIDN’T START DROPPING UNTIL MID-MARCH, WHICH MAY NOT BE ENOUGH TIME FOR SHOPPERS TO SEE A DECLINE IN PRICES YET.

AGRICULTURE SECRETARY BROOKE ROLLINS ALSO SUGGESTED THE RISE IN EGG PRICES IS TEMPORARY… SAYING THE OVERALL C-P-I SHOWS A SLIGHT DECLINE IN PRICES FOR GOODS AND SERVICES ACROSS THE U-S IN MARCH.

ROLLINS THINKS THE PRICE OF EGGS WILL SOON FALL IN LINE.

PRESIDENT TRUMP ANNOUNCED EARLIER THIS WEEK THE WHITE HOUSE EGG ROLL WOULD FEATURE REAL EGGS AGAIN THIS YEAR, DESPITE THE RISE IN PRICES.

FARMERS REPORTEDLY NORMALLY DONATE MORE THAN 30-THOUSAND EGGS FOR THE EVENT.

THE ADMINISTRATION ALSO ANNOUNCED LAST MONTH IT WOULD BEGIN IMPORTING EGGS FROM SOUTH KOREA AND TURKEY TO ALLEVIATE A SUPPLY-SHORTAGE.

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FOR STRAIGHT ARROW NEWS– I’M Kalé Carey.