Egg Prices Rise 70% Compared to Last Year, Here’s Why

The price of eggs has reached record highs recently.

According to Yahoo Finance, the cost of eggs is up 70.1% year-over-year. The cost increased 11.1% month-over-month from November to December and 8.5% month-over-month from December to January.

Additionally, based on results from the U.S. Bureau of Labor Statistics, the average cost of a dozen large Grade A eggs has reached $4.82.

What is causing the prices of eggs to rise?

The Avian flu is largely to blame for the price hike as it killed millions of egg-laying hens last year and farmers are still struggling to rebuild their flocks, Yahoo Finance reported.

A global trade strategist at Eggs Unlimited, an egg supplier based in Irvine, California, told CNBC that the Avian flu is highly contagious, and farmers usually have to kill their remaining birds, not by choice but due to federal rules created to prevent the spread of the disease.

However, according to the USDA, things might be looking up. “Wholesale prices have been declining steadily from their late 2022 highs which has helped support retailer efforts to bring pricing down to a more consumer-acceptable level.”

Senior Analyst at Urner Barry, Angel Rubio, claims it takes about four weeks for retail prices to reflect wholesale price trends, so consumers might start to see some relief soon.