In November, the price of eggs increased by 49.1% according to the consumer price index, making eggs the most impacted by inflation in 2022. As expected, egg prices are still very high for the new year. Data from the United States Department of Agriculture shows that in California, a dozen eggs cost $7.37 last week, down from $2.35 a year ago. But eggs are actually considered cheap in comparison to other types of animal protein at this time.
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According to the Bureau of Labor Statistics, a pound of boneless chicken breast sold for an average of $4.42 in November, a pound of ground beef sold for $4.85, and a pound of sliced bacon sold for $7.24.
Why are these food products becoming so astronomically expensive? Each case is unique.
The cost of chicken is increasing mainly due to the increase in demand linked to an increase in production costs (mainly animal feed). Ground beef is more expensive than before, in part because of how drought is affecting cattle herds (leading to farmers selling off many) – and bacon is more expensive due to complex issues of supply and demand.
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Consumer price index: You paid more for bacon in December, but less for fruits and vegetables
The spike in egg prices is largely due to the outbreak of a deadly bird flu which the CDC says has affected nearly 58 million poultry – including many laying hens – as of January 11.
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This article originally appeared on GOBankingRates.com: Egg prices reach $7.37, but are still cheaper than other proteins
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