Price of eggs skyrockets 13% in a single month even as inflation slows elsewhere
rocery prices are continuing to rise—although more slowly. That bit of good news is likely to be little consultation to Americans who are continuing to see the prices of staples skyrocket.Butter rose in price by 1.5%, to $4.88 per poundLemons rose by 5.2%, to $2.19 per poundOverall, prices for food at home rose 0.4% in January over the previous month, down from a 0.5% rise in December, according to new government data released by the Bureau of Labor Statistics on Tuesday.
The eye-popping price increase for eggs is largely attributed to the ongoing avian flu epidemic hitting chicken farms, with nearlyinfected—the deadliest such outbreak in U.S. history. “This is the largest animal emergency that [the U.S. Department of Agriculture] has ever faced in this country,” says Gino Lorenzoni, an assistant professor of poultry science and avian health at Penn State University. “And it doesn’t look like it’s going to stop anytime soon.
“Clearly we’re not going to be done with inflation this month, but I don’t think anybody was thinking that,” he says. “A soft landing trajectory still makes sense, but maybe it’s more turbulent because there is more goods volatility than we were predicting a year ago.”
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