US egg prices have reached a record high of $4.95 per dozen, driven by the ongoing bird flu outbreak. The latest monthly consumer price index shows that average egg prices in US cities are more than double their 2023 low.
The spike in egg prices is attributed to the death of millions of birds due to the bird flu virus, which has resulted in a shortage of eggs nationwide. According to the US Bureau of Labor Statistics, this increase accounts for roughly two-thirds of total food costs.
While some states have implemented cage-free laws, the supply remains limited and concentrated in certain regions, exacerbating the price surge. Total demand for eggs is up significantly, driven by consumer buying habits and the growth of all-day breakfast restaurants.
The bird flu outbreak has resulted in nearly 158 million birds being slaughtered overall since its start. The Agriculture Department predicts a 20% increase in egg prices this year due to the ongoing outbreak.
Despite efforts to mitigate supply chain disruptions, relief is not expected soon. Egg prices are likely to remain elevated until egg producers can fill gaps in supply and farmers address rising feed, fuel, and labor costs.
Source: https://apnews.com/article/egg-prices-record-bird-flu-a2394bdefc7bd0514d4f003cc5e8a908