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