Egg prices reach $7.37, but are still cheaper than other proteins

CatLane/Getty Images/iStockphoto

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.

To see: 10 things to stop buying in 2023
Read: How to Get Free Gift Cards for Your Everyday Purchases
Find: 11 Grocery Items to Buy at Dollar Tree

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.

Take our poll : How do you think the economy will behave in 2023?
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.

More from GOBankingRates

This article originally appeared on Egg prices reach $7.37, but are still cheaper than other proteins

Comments are closed.