Egg prices are still rising in the store, even when the wholesale trade has declined in recent weeks.
The price of a dozen white, large eggs got a record $ 6.23 high in March, compared to the previous $ 5.90 record in February.
“Wholesale prices were moving in February, so the higher retail prices in March do not seem to be a surprise. The decline of wholesale prices really started in March, so the next report may have some lower prices,” Professor of the University of A&M David Anderson told Yahoo Finance.
Egg prices brought the total food at home inflation higher, which is 2.4% compared to the year, according to the latest IPA data. Other stubbornly taller items include immediate coffee and unburied ground beef.
Read more: $ 6 eggs and other inflation pain points: This is where prices rise
Anderson explained that the higher beef prices have some “work season”.
“It is now a grill season, for some of us and for steaks and ground beef, it probably leads to some higher prices,” he said.
Egg inflation jumped by 60.4% compared to a year ago and 5.9% on a month over a month. This is the less increase in recent months, compared to 10.4% and 15.2% jumps in the previous months.
General food inflation has increased by 3.0% compared to the year led by a 5.6% jump in food away from home.
It may take some time before the omelette lovers get some relief. In the last three weeks, wholesale prices have fallen to $ 3.26 per dozen eggs of over $ 6.80 in early March, according to a USDA report on April 4. The agency said that more consumer demand helped to improve supply and “users again see completely provided shelves.”
Kevin Bergquist of Wells Fargo said Yahoo Finance prices will continue to be variable.
“With Easter around the corner, we expect egg prices to continue to rise, while many will still choose eggs in view of the festive tradition, but after the holiday it can see a decline in purchases.”
This news comes when the Ministry of Justice launched an investigation by the largest egg producer in America, Cal-Maine Foods (Calm). On the filing of 8-k, the company said that in March “it had received a civil request for an investigation into a widespread investigation into the Antitrial Division Department of the Ministry of Justice for the causes of national egg prices.”
The company said it “collaborated with the investigation.”
At the end of February, US Agriculture Minister Brooke Rollins presented a strategy for five parts to combat bird flu epidemics in OP-E.