What in the Egg?
The latest Consumer Price Index data shows improvement. December 2022 numbers indicate that CPI declined by 0.1% from the previous month, slowing annual inflation to 6.5% down from its peak of 9.1% in June 2022.
However, for the average family, prices at the grocery story remain a concern. The price of eggs, a staple in the diets of Americans, is up 70% from a year ago. The average price of dozen of Grade A eggs is now $2.86. Below are some graphs for you to see the change.
What is Causing the Price Hikes?
Increase in demand: Americans have substituted to eggs as their source of protein.
Decrease in supply: According to USDA there are 58 million birds infected by the avian flu as of January 6th.
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