Jun 14, 2023 - Economy
Egg prices fall at steepest rate since 1951
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You no longer need to bring home extra bacon to afford eggs.
What happened: A dozen large cost $2.67 on average in May, down from $3.27 in April — and way below the January peak of $4.82, per the latest Consumer Price Index data out Tuesday.
- The government index that tracks egg prices fell 13.8% in May, the largest monthly drop since January 1951.
Why it matters: Each phase of the COVID economy gets its iconic commodity: Sky-high egg prices, a result of an Avian flu epidemic, symbolized the 2023 inflation — much as gas prices were emblematic of Ukraine war-driven inflation last year.
- And we'll never forget the sky-high lumber prices that defined the earliest phase of inflation in 2021.
The bottom line: Eggs are back, baby! This reporter is ready to, erm, get crackin' on all sorts of custardy recipes.
