According to a recent report from the Economic Research Service of the U.S. Department of Agriculture, the prices of eggs are set to surge as high as 21 percent this year, representing one of the fastest price increases due to inflation.
The report, which serve as a measure for inflation on an economy-wide scale, examines a number of different food items, alongside the percentage change in their prices, on a month-to-month basis, as well as on an annual basis.
In April, the overall index increased by 0.6 percent relative to March, and it is up a substantial 8.3 percent from the same time period in 2021, which is significant considering that inflation had already set in well before April 2021.
In addition, the report also warned that food products will likely increase in price by approximately 9.4 percent, remaining higher than average relative to 2021 and 2020.
Consequently, Americans can anticipate spending at least 7 to 8 percent more on purchases in supermarkets, which is approximately the same price increase that can be expected at restaurants.
Prices for poultry, fish, and meat are expected to increase anywhere from 7 to 8 percent, similar to predictions for dairy prices. Vegetables and fruits are also not immune to the effects of inflation, as they are expected to increase from 6.5 to 7.5 percent. Oils and fats exhibit the most precipitous rise, chiefly in range from 10 to 11 percent.
In sum, all eleven food categories are anticipated to increase in price, with none projected to lower their prices before the end of 2022.
One reason for why dairy and eggs have been significantly impacted by inflation could be explained by the avian flu outbreak, which in turn has reduced the availability of egg-laying flocks across the United States.
As a result of this outbreak, the price of eggs soared by 10.3 percent in the month of April alone, far outstripping price increases amongst other food items during the same time period.